Macquarie Reiterates “Outperform” Rating for Rio Tinto plc (RIO)
Rio Tinto plc (LON:RIO)‘s stock had its “outperform” rating reaffirmed by analysts at Macquarie in a research note issued to investors on Monday. They presently have a GBX 3,300 ($40.22) price objective on the stock. Macquarie’s price target suggests a potential upside of 26.17% from the stock’s current price.
RIO has been the topic of several other research reports. Royal Bank Of Canada raised Rio Tinto plc to an “outperform” rating and raised their price objective for the company from GBX 2,200 ($26.81) to GBX 3,400 ($41.44) in a report on Thursday, September 8th. Canaccord Genuity lifted their target price on Rio Tinto plc from GBX 2,800 ($34.13) to GBX 3,130 ($38.15) and gave the stock a “buy” rating in a report on Friday, August 26th. Deutsche Bank AG reaffirmed a “buy” rating and set a GBX 3,230 ($39.37) target price on shares of Rio Tinto plc in a report on Wednesday, August 31st. Citigroup Inc. set a GBX 2,600 ($31.69) target price on Rio Tinto plc and gave the stock a “neutral” rating in a report on Friday, September 30th. Finally, JPMorgan Chase & Co. lifted their target price on Rio Tinto plc from GBX 3,050 ($37.17) to GBX 3,150 ($38.39) and gave the stock an “overweight” rating in a report on Thursday, September 15th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of GBX 2,625.96 ($32.00).
Rio Tinto plc (LON:RIO) opened at 2608.00 on Monday. The company’s 50 day moving average price is GBX 2,468.31 and its 200-day moving average price is GBX 2,275.01. Rio Tinto plc has a 12-month low of GBX 1,557.00 and a 12-month high of GBX 2,800.00. The company’s market capitalization is GBX 46.91 billion.
The company also recently disclosed a dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, August 11th were paid a GBX 33.80 ($0.41) dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a yield of 1.39%.
Rio Tinto plc Company Profile
Rio Tinto plc (Rio Tinto) is a global mining company. Rio Tinto focuses on finding, mining, and processing the Earth’s mineral resources. The Company operates through five product groups, including aluminum, copper, diamonds and minerals, energy product and iron ore. Its aluminum product group includes business includes bauxite mines, large-scale alumina refineries aluminum smelters.
Receive News & Ratings for Rio Tinto plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto plc and related companies with MarketBeat.com's FREE daily email newsletter.