Rio Tinto (RIO) Stock Rating Reaffirmed by Citigroup

Citigroup reissued their buy rating on shares of Rio Tinto (LON:RIO) in a research report sent to investors on Wednesday.

A number of other research analysts have also recently commented on the stock. Goldman Sachs set a GBX 3,300 ($46.32) target price on shares of Rio Tinto and gave the company a neutral rating in a research report on Monday, December 11th. Deutsche Bank increased their price target on shares of Rio Tinto from GBX 4,500 ($63.17) to GBX 4,600 ($64.57) and gave the stock a buy rating in a research report on Monday, January 15th. Credit Suisse Group reissued an outperform rating and set a GBX 4,300 ($60.36) price target on shares of Rio Tinto in a research report on Tuesday, February 27th. Barclays increased their price target on shares of Rio Tinto from GBX 4,300 ($60.36) to GBX 4,500 ($63.17) and gave the stock an overweight rating in a research report on Monday, January 8th. Finally, JPMorgan Chase set a GBX 3,750 ($52.64) price target on shares of Rio Tinto and gave the stock a neutral rating in a research report on Thursday, December 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of GBX 4,159.21 ($58.38).

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LON RIO opened at GBX 3,560 ($49.97) on Wednesday. Rio Tinto has a 12 month low of GBX 2,882.50 ($40.46) and a 12 month high of GBX 4,226.56 ($59.33).

The business also recently declared a dividend, which will be paid on Thursday, April 12th. Shareholders of record on Thursday, March 1st will be paid a GBX 129.43 ($1.82) dividend. This is a positive change from Rio Tinto’s previous dividend of $83.13. This represents a yield of 3.42%. The ex-dividend date is Thursday, March 1st.

In other Rio Tinto news, insider Christopher Lynch sold 9,505 shares of the stock in a transaction that occurred on Monday, February 19th. The shares were sold at an average price of GBX 4,072 ($57.16), for a total value of £387,043.60 ($543,295.34).

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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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