Rio Tinto (RIO) Stock Rating Reaffirmed by Citigroup

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Rio Tinto (LON:RIO)‘s stock had its “buy” rating reissued by stock analysts at Citigroup in a research note issued on Friday.

Several other brokerages also recently weighed in on RIO. JPMorgan Chase & Co. set a GBX 4,200 ($55.92) target price on shares of Rio Tinto and gave the company a “neutral” rating in a research note on Tuesday, April 3rd. Morgan Stanley set a GBX 3,900 ($51.92) target price on shares of Rio Tinto and gave the company a “neutral” rating in a research note on Tuesday, April 3rd. Credit Suisse Group reissued an “outperform” rating and issued a GBX 4,300 ($57.25) target price on shares of Rio Tinto in a research note on Tuesday, February 27th. UBS Group set a GBX 4,000 ($53.26) target price on shares of Rio Tinto and gave the company a “buy” rating in a research note on Wednesday, March 28th. Finally, Goldman Sachs Group set a GBX 3,750 ($49.93) target price on shares of Rio Tinto and gave the company a “neutral” rating in a research note on Monday, May 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. Rio Tinto presently has an average rating of “Buy” and a consensus price target of GBX 4,168.75 ($55.50).

Shares of RIO opened at GBX 4,402 ($58.61) on Friday. Rio Tinto has a twelve month low of GBX 2,882.50 ($38.38) and a twelve month high of GBX 4,226.56 ($56.27).

In other Rio Tinto news, insider Simon Henry bought 500 shares of the company’s stock in a transaction on Tuesday, April 10th. The shares were bought at an average cost of GBX 3,713 ($49.43) per share, for a total transaction of £18,565 ($24,717.08). Also, insider Jean-Sébastien Jacques sold 4,759 shares of the stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of GBX 4,247 ($56.54), for a total transaction of £202,114.73 ($269,091.64).

Rio Tinto Company Profile

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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