Brokerages Set Rio Tinto plc (RIO) Price Target at $4,313.85

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Rio Tinto plc (LON:RIO) has received an average recommendation of “Hold” from the eighteen ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is GBX 4,303.33 ($56.23).

Several equities analysts recently issued reports on the company. Royal Bank of Canada reiterated a “sector performer” rating and issued a GBX 3,900 ($50.96) price objective on shares of Rio Tinto in a research report on Tuesday, June 26th. Goldman Sachs Group set a GBX 4,000 ($52.27) price objective on Rio Tinto and gave the company a “neutral” rating in a research report on Thursday, September 13th. UBS Group reiterated a “buy” rating on shares of Rio Tinto in a research report on Thursday, July 26th. Deutsche Bank set a GBX 4,300 ($56.19) price objective on Rio Tinto and gave the company a “neutral” rating in a research report on Thursday. Finally, Credit Suisse Group set a GBX 5,000 ($65.33) price objective on Rio Tinto and gave the company a “buy” rating in a research report on Tuesday, July 17th.

Shares of Rio Tinto stock traded down GBX 35 ($0.46) during trading on Friday, hitting GBX 3,698 ($48.32). 1,561,938 shares of the company were exchanged, 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 declared a dividend, which was paid on Thursday, September 20th. Shareholders of record on Thursday, August 9th were given a dividend of GBX 96.82 ($1.27) per share. This represents a yield of 2.41%. The ex-dividend date was Thursday, August 9th.

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.

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Analyst Recommendations for Rio Tinto (LON:RIO)

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