Rio Tinto (RIO) PT Set at GBX 4,200 by Royal Bank of Canada

Royal Bank of Canada set a GBX 4,200 ($58.03) price target on Rio Tinto (LON:RIO) in a research report report published on Monday, March 5th. The firm currently has a neutral rating on the stock.

Several other equities analysts have also recently commented on the stock. Citigroup raised shares of Rio Tinto to a buy rating and set a GBX 4,050 ($55.95) price target on the stock in a research report on Tuesday, December 5th. Goldman Sachs set a GBX 3,300 ($45.59) target price on shares of Rio Tinto and gave the stock a neutral rating in a report on Monday, December 11th. Societe Generale raised shares of Rio Tinto to a buy rating and raised their target price for the stock from GBX 3,600 ($49.74) to GBX 4,400 ($60.79) in a report on Thursday, November 9th. Deutsche Bank raised their target price on shares of Rio Tinto from GBX 4,500 ($62.17) to GBX 4,600 ($63.55) and gave the stock a buy rating in a report on Monday, January 15th. Finally, HSBC reissued a buy rating and issued a GBX 4,000 ($55.26) target price on shares of Rio Tinto in a report on Monday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. The company has an average rating of Buy and an average price target of GBX 4,159.21 ($57.46).

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Shares of RIO stock traded up GBX 88 ($1.22) during trading hours on Monday, hitting GBX 3,611 ($49.89). 5,184,287 shares of the company were exchanged, compared to its average volume of 4,860,000. Rio Tinto has a one year low of GBX 2,882.50 ($39.82) and a one year high of GBX 4,226.56 ($58.39).

The business also recently disclosed a dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 1st will be paid a dividend of GBX 129.43 ($1.79) per share. This represents a dividend yield of 3.42%. The ex-dividend date is Thursday, March 1st. This is a positive change from Rio Tinto’s previous dividend of $83.13.

In related news, insider Christopher Lynch sold 9,505 shares of the firm’s stock in a transaction that occurred on Monday, February 19th. The shares were sold at an average price of GBX 4,072 ($56.26), for a total transaction of £387,043.60 ($534,738.33).

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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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