Rio Tinto plc (LON:RIO) has been given a GBX 2,600 ($33.94) target price by investment analysts at Citigroup Inc. in a note issued to investors on Friday. The brokerage presently has a a “neutral” rating on the stock. Citigroup Inc.’s target price would suggest a potential downside of 0.25% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. Deutsche Bank AG dropped their target price on Rio Tinto plc from GBX 3,000 ($39.16) to GBX 2,800 ($36.55) and set a “buy” rating on the stock in a report on Thursday, June 16th. Sanford C. Bernstein set a GBX 2,520 ($32.89) target price on Rio Tinto plc and gave the company a “buy” rating in a report on Tuesday, June 21st. Haitong Bank raised their target price on Rio Tinto plc from GBX 2,515 ($32.83) to GBX 2,783 ($36.33) and gave the company a “buy” rating in a report on Thursday, June 30th. Jefferies Group raised their target price on Rio Tinto plc from GBX 2,300 ($30.02) to GBX 2,600 ($33.94) and gave the company a “buy” rating in a report on Thursday, July 7th. Finally, JPMorgan Chase & Co. set a GBX 3,000 ($39.16) target price on Rio Tinto plc and gave the company a “buy” rating in a report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of GBX 2,595.73 ($33.88).
Shares of Rio Tinto plc (LON:RIO) opened at 2667.50 on Friday. The stock’s market cap is GBX 47.98 billion. Rio Tinto plc has a 52 week low of GBX 1,557.00 and a 52 week high of GBX 2,671.60. The firm has a 50-day moving average price of GBX 2,406.36 and a 200-day moving average price of GBX 2,225.12.
The company also recently announced a dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, August 11th were paid a GBX 33.80 ($0.44) dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a yield of 1.39%.
In related news, insider Jacques,Jean-Sébastien purchased 15 shares of Rio Tinto plc stock in a transaction on Monday, July 18th. The stock was bought at an average price of GBX 2,433 ($31.76) per share, with a total value of £364.95 ($476.37).
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.
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