Rio Tinto (RIO) Receives “Hold” Rating from Deutsche Bank

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Deutsche Bank reissued their hold rating on shares of Rio Tinto (LON:RIO) in a research note issued to investors on Friday. The brokerage currently has a GBX 4,300 ($56.19) price target on the stock.

A number of other equities analysts have also commented on RIO. Goldman Sachs Group set a GBX 3,800 ($49.65) price target on Rio Tinto and gave the company a neutral rating in a research note on Monday, June 18th. JPMorgan Chase & Co. reissued a neutral rating and set a GBX 5,000 ($65.33) price target on shares of Rio Tinto in a research note on Tuesday, June 19th. Citigroup reissued a buy rating on shares of Rio Tinto in a research note on Tuesday, June 19th. HSBC upgraded Rio Tinto to a buy rating and raised their price objective for the stock from GBX 4,700 ($61.41) to GBX 5,100 ($66.64) in a report on Thursday, June 21st. Finally, Royal Bank of Canada restated a sector performer rating and set a GBX 3,900 ($50.96) price objective on shares of Rio Tinto in a report on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of GBX 4,212.78 ($55.05).

RIO traded up GBX 45.50 ($0.59) during midday trading on Friday, reaching GBX 3,674.50 ($48.01). The company had a trading volume of 4,657,856 shares, compared to its average volume of 4,860,000. Rio Tinto has a 1 year low of GBX 2,882.50 ($37.66) and a 1 year high of GBX 4,226.56 ($55.23).

The company also recently disclosed a dividend, which was paid on Thursday, September 20th. Investors of record on Thursday, August 9th were given a GBX 96.82 ($1.27) dividend. The ex-dividend date of this dividend was Thursday, August 9th. This represents a yield of 2.41%.

In other news, insider Jean-Sébastien Jacques sold 7 shares of Rio Tinto stock in a transaction that occurred on Thursday, July 19th. The shares were sold at an average price of GBX 4,078 ($53.29), for a total transaction of £285.46 ($373.00).

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.

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Analyst Recommendations for Rio Tinto (LON:RIO)

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