Citigroup Reaffirms “Buy” Rating for Rio Tinto (RIO)

Citigroup reaffirmed their buy rating on shares of Rio Tinto (LON:RIO) in a research report released on Wednesday morning. They currently have a GBX 4,050 ($55.95) price objective on the stock.

Other equities analysts also recently issued reports about the company. Jefferies Group reissued a buy rating and set a GBX 4,200 ($58.03) price objective on shares of Rio Tinto in a research report on Tuesday, December 5th. Deutsche Bank reissued a buy rating and set a GBX 4,500 ($62.17) price objective on shares of Rio Tinto in a research report on Tuesday, December 5th. HSBC reissued a buy rating and set a GBX 4,000 ($55.26) price objective on shares of Rio Tinto in a research report on Monday, December 4th. UBS set a GBX 4,000 ($55.26) price objective on Rio Tinto and gave the stock a buy rating in a research report on Wednesday, December 13th. Finally, Macquarie set a GBX 4,900 ($67.70) price objective on Rio Tinto and gave the stock a buy rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of GBX 4,153.95 ($57.39).

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RIO stock opened at GBX 3,566.50 ($49.27) on Wednesday. Rio Tinto has a 52-week low of GBX 2,882.50 ($39.82) and a 52-week high of GBX 4,226.56 ($58.39). The company has a market capitalization of $67,730.00 and a PE ratio of 971.80.

The firm also recently declared a dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 1st will be issued a GBX 129.43 ($1.79) dividend. This represents a yield of 3.42%. This is an increase from Rio Tinto’s previous dividend of $83.13. The ex-dividend date is Thursday, March 1st.

In related news, insider Christopher Lynch sold 9,505 shares of the company’s stock in a transaction that occurred on Monday, February 19th. The stock was sold at an average price of GBX 4,072 ($56.26), for a total value of £387,043.60 ($534,738.33).

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About Rio Tinto

Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.

Analyst Recommendations for Rio Tinto (LON:RIO)

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