Rio Tinto plc (LON:RIO)’s share price rose 0% on Thursday . The company traded as high as GBX 4,003.50 ($53.53) and last traded at GBX 3,986.50 ($53.30). Approximately 3,264,677 shares changed hands during trading, an increase of 2% from the average daily volume of 3,210,000 shares. The stock had previously closed at GBX 3,986.50 ($53.30).
RIO has been the topic of a number of recent analyst reports. Deutsche Bank boosted their price target on Rio Tinto from GBX 4,300 ($57.49) to GBX 4,500 ($60.17) and gave the stock a “buy” rating in a research report on Friday, October 13th. Barclays boosted their price target on Rio Tinto from GBX 4,100 ($54.82) to GBX 4,500 ($60.17) and gave the stock an “overweight” rating in a research report on Tuesday, October 24th. Citigroup raised Rio Tinto to a “buy” rating and set a GBX 4,050 ($54.15) price target on the stock in a research report on Tuesday, December 5th. Societe Generale raised Rio Tinto to a “buy” rating and boosted their price target for the stock from GBX 3,600 ($48.13) to GBX 4,400 ($58.83) in a research report on Thursday, November 9th. Finally, Macquarie reissued an “outperform” rating and set a GBX 4,500 ($60.17) price target on shares of Rio Tinto in a research report on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. Rio Tinto presently has an average rating of “Buy” and an average price target of GBX 3,984.75 ($53.28).
The stock has a market capitalization of $72,440.00 and a PE ratio of 1,569.49.
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About Rio Tinto
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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