Rio Tinto (RIO) Given a GBX 3,300 Price Target at Goldman Sachs Group

Rio Tinto (LON:RIO) has been given a GBX 3,300 ($44.75) target price by stock analysts at Goldman Sachs Group in a research report issued on Tuesday. The brokerage presently has a “neutral” rating on the stock. Goldman Sachs Group’s target price points to a potential downside of 17.54% from the company’s current price.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 4,100 ($55.60) target price on shares of Rio Tinto in a research report on Monday, September 25th. Morgan Stanley set a GBX 3,700 ($50.18) target price on shares of Rio Tinto and gave the company a “neutral” rating in a research report on Tuesday, October 17th. Barclays upped their target price on shares of Rio Tinto from GBX 4,100 ($55.60) to GBX 4,500 ($61.03) and gave the company an “overweight” rating in a research report on Tuesday, October 24th. Deutsche Bank upped their target price on shares of Rio Tinto from GBX 4,300 ($58.31) to GBX 4,500 ($61.03) and gave the company a “buy” rating in a research report on Friday, October 13th. Finally, Jefferies Group restated a “buy” rating and set a GBX 4,200 ($56.96) target price on shares of Rio Tinto in a research report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of GBX 4,049.75 ($54.92).

Rio Tinto (RIO) traded down GBX 2.50 ($0.03) during trading on Tuesday, reaching GBX 4,002 ($54.27). 2,087,727 shares of the company’s stock were exchanged, compared to its average volume of 3,260,000. Rio Tinto has a 52 week low of GBX 2,882.50 ($39.09) and a 52 week high of GBX 4,226.56 ($57.32). The firm has a market cap of $73,480.00 and a P/E ratio of 1,607.23.

In other Rio Tinto news, insider Christopher Lynch bought 26,066 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was acquired at an average cost of GBX 3,490 ($47.33) per share, with a total value of £909,703.40 ($1,233,663.41).

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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.

Analyst Recommendations for Rio Tinto (LON:RIO)

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