Rio Tinto plc (RIO) Earns Buy Rating from Deutsche Bank AG
Deutsche Bank AG restated their buy rating on shares of Rio Tinto plc (LON:RIO) in a research report report published on Friday, MarketBeat reports. Deutsche Bank AG currently has a GBX 4,300 ($57.97) price target on the stock.
A number of other brokerages also recently commented on RIO. Goldman Sachs Group, Inc. (The) set a GBX 2,900 ($39.10) target price on shares of Rio Tinto plc and gave the stock a neutral rating in a research note on Thursday, August 3rd. UBS AG set a GBX 3,750 ($50.56) target price on shares of Rio Tinto plc and gave the stock a buy rating in a research note on Wednesday, August 30th. HSBC Holdings plc restated a buy rating and issued a GBX 3,800 ($51.23) target price on shares of Rio Tinto plc in a research note on Wednesday, August 30th. Morgan Stanley upped their target price on shares of Rio Tinto plc from GBX 3,260 ($43.95) to GBX 3,430 ($46.25) and gave the stock an equal weight rating in a research note on Tuesday, July 18th. Finally, Barclays PLC restated an overweight rating and issued a GBX 4,100 ($55.28) target price on shares of Rio Tinto plc in a research note on Tuesday, August 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of GBX 3,791.25 ($51.12).
Shares of Rio Tinto plc (LON RIO) opened at 3471.00 on Friday. The company’s market capitalization is GBX 62.23 billion. Rio Tinto plc has a 1-year low of GBX 2,434.50 and a 1-year high of GBX 3,784.50. The company has a 50 day moving average price of GBX 3,570.46 and a 200 day moving average price of GBX 3,303.48.
The firm also recently disclosed a dividend, which was paid on Thursday, September 21st. Stockholders of record on Thursday, August 10th were paid a dividend of GBX 83.13 ($1.12) per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a dividend yield of 2.31%.
In other news, insider W Sam H. Laidlaw bought 7,500 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average price of GBX 3,420 ($46.11) per share, with a total value of £256,500 ($345,827.15). Also, insider Jean-Sébastien Jacques bought 11 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were purchased at an average cost of GBX 3,501 ($47.20) per share, with a total value of £385.11 ($519.23).
About Rio Tinto plc
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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