Rio Tinto plc (RIO) PT Raised to GBX 4,400 at Royal Bank of Canada

Rio Tinto plc (LON:RIO) had its price objective upped by Royal Bank of Canada from GBX 4,000 ($49.40) to GBX 4,400 ($54.34) in a report published on Wednesday morning. The brokerage currently has an outperform rating on the stock.

RIO has been the topic of several other reports. JPMorgan Chase & Co. restated an overweight rating and set a GBX 3,200 ($39.52) price objective on shares of Rio Tinto plc in a research note on Wednesday, November 16th. Citigroup Inc restated a neutral rating and set a GBX 3,500 ($43.23) price objective on shares of Rio Tinto plc in a research note on Tuesday, January 17th. HSBC Holdings plc restated a buy rating and set a GBX 4,000 ($49.40) price objective on shares of Rio Tinto plc in a research note on Thursday, February 9th. Deutsche Bank AG restated a buy rating and set a GBX 3,770 ($46.56) price objective on shares of Rio Tinto plc in a research note on Tuesday, February 7th. Finally, Liberum Capital restated a sell rating and set a GBX 2,400 ($29.64) price objective on shares of Rio Tinto plc in a research note on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of GBX 3,445.90 ($42.56).

Rio Tinto plc (LON:RIO) opened at 3470.00 on Wednesday. The firm’s market capitalization is GBX 62.43 billion. The stock’s 50 day moving average is GBX 3,436.29 and its 200-day moving average is GBX 3,036.65. Rio Tinto plc has a 1-year low of GBX 1,845.00 and a 1-year high of GBX 3,718.50.

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The company also recently announced a dividend, which will be paid on Thursday, April 6th. Investors of record on Thursday, February 23rd will be issued a dividend of GBX 100.56 ($1.24) per share. This is a positive change from Rio Tinto plc’s previous dividend of $33.80. This represents a yield of 2.98%. The ex-dividend date is Thursday, February 23rd.

In related news, insider Jean-Sébastien Jacques sold 3,325 shares of Rio Tinto plc stock in a transaction dated Monday, February 20th. The stock was sold at an average price of GBX 3,618 ($44.68), for a total transaction of £120,298.50 ($148,571.69).

About Rio Tinto plc

Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth’s mineral resources. The Company’s segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.

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