Rio Tinto plc (RIO) Receives Outperform Rating from Macquarie
Macquarie reiterated their outperform rating on shares of Rio Tinto plc (LON:RIO) in a research note released on Wednesday morning. Macquarie currently has a GBX 4,000 ($52.76) target price on the stock.
A number of other analysts have also commented on RIO. Jefferies Group LLC reissued a buy rating and set a GBX 3,800 ($50.13) price objective on shares of Rio Tinto plc in a report on Tuesday, April 4th. Liberum Capital reissued a sell rating and set a GBX 2,450 ($32.32) price objective on shares of Rio Tinto plc in a report on Tuesday, April 11th. Credit Suisse Group reissued an outperform rating and set a GBX 4,000 ($52.76) price objective on shares of Rio Tinto plc in a report on Wednesday, April 19th. HSBC Holdings plc reissued a buy rating and set a GBX 4,000 ($52.76) price objective on shares of Rio Tinto plc in a report on Wednesday, April 19th. Finally, S&P Global set a GBX 3,400 ($44.85) price objective on Rio Tinto plc and gave the stock a buy rating in a report on Thursday, April 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Rio Tinto plc currently has a consensus rating of Buy and a consensus target price of GBX 3,731.25 ($49.22).
Rio Tinto plc (LON RIO) opened at 3546.00 on Wednesday. The firm has a 50-day moving average price of GBX 3,305.60 and a 200-day moving average price of GBX 3,284.98. Rio Tinto plc has a 1-year low of GBX 2,253.50 and a 1-year high of GBX 3,718.50. The company’s market capitalization is GBX 63.69 billion.
In other Rio Tinto plc news, insider Christopher Lynch sold 7,582 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of GBX 3,108 ($41.00), for a total transaction of £235,648.56 ($310,841.00). Also, insider Jean-Sébastien Jacques bought 11 shares of the company’s stock in a transaction on Monday, July 17th. The shares were bought at an average price of GBX 3,501 ($46.18) per share, for a total transaction of £385.11 ($507.99).
Rio Tinto plc Company Profile
Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.
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