Rio Tinto (LON:RIO) had its target price lifted by investment analysts at Barclays from GBX 3,750 ($49.00) to GBX 4,100 ($53.57) in a report released on Thursday. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 6.01% from the stock’s previous close.
A number of other research analysts have also commented on the stock. UBS Group restated a “buy” rating and set a GBX 4,600 ($60.11) price target on shares of Rio Tinto in a research report on Friday, January 4th. Credit Suisse Group set a GBX 3,730 ($48.74) price target on shares of Rio Tinto and gave the company a “neutral” rating in a research report on Monday, December 17th. JPMorgan Chase & Co. set a GBX 5,100 ($66.64) price target on shares of Rio Tinto and gave the company a “buy” rating in a research report on Thursday, December 13th. Royal Bank of Canada reiterated an “underperform” rating on shares of Rio Tinto in a research report on Thursday, December 13th. Finally, Citigroup reiterated a “buy” rating and issued a GBX 4,400 ($57.49) target price on shares of Rio Tinto in a research report on Monday, December 10th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of GBX 4,163.75 ($54.41).
RIO opened at GBX 3,867.50 ($50.54) on Thursday. Rio Tinto has a one year low of GBX 2,882.50 ($37.66) and a one year high of GBX 4,226.56 ($55.23).
In other Rio Tinto news, insider Jakob Stausholm sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of GBX 3,664 ($47.88), for a total transaction of £549,600 ($718,149.75). Also, insider Jean-Sébastien Jacques sold 7 shares of the company’s stock in a transaction dated Tuesday, October 23rd. The shares were sold at an average price of GBX 3,632 ($47.46), for a total transaction of £254.24 ($332.21). Over the last 90 days, insiders have sold 26,258 shares of company stock valued at $97,187,925.
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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