Rio Tinto plc (LON:RIO)‘s stock had its “buy” rating restated by Jefferies Group LLC in a research report issued to clients and investors on Wednesday, October 18th. They currently have a GBX 4,200 ($55.24) price target on the stock. Jefferies Group LLC’s price objective indicates a potential upside of 11.30% from the company’s previous close.
Several other research firms have also weighed in on RIO. J P Morgan Chase & Co lifted their target price on shares of Rio Tinto plc from GBX 4,000 ($52.61) to GBX 4,100 ($53.93) and gave the company an “overweight” rating in a report on Tuesday, September 5th. Morgan Stanley set a GBX 3,700 ($48.67) target price on shares of Rio Tinto plc and gave the company a “neutral” rating in a report on Tuesday, October 17th. Credit Suisse Group restated an “outperform” rating and set a GBX 4,000 ($52.61) target price on shares of Rio Tinto plc in a report on Thursday, September 7th. BNP Paribas set a GBX 4,000 ($52.61) price objective on shares of Rio Tinto plc and gave the stock a “buy” rating in a report on Wednesday, September 6th. Finally, Barclays PLC reiterated an “overweight” rating and issued a GBX 4,100 ($53.93) price objective on shares of Rio Tinto plc in a report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of GBX 3,867.25 ($50.86).
Shares of Rio Tinto plc (LON:RIO) traded up GBX 48.50 ($0.64) during midday trading on Wednesday, hitting GBX 3,773.50 ($49.63). 2,530,992 shares of the stock traded hands, compared to its average volume of 3,490,000. Rio Tinto plc has a one year low of GBX 2,709.50 ($35.64) and a one year high of GBX 3,805.50 ($50.05).
In other Rio Tinto plc news, insider Jean-Sébastien Jacques bought 10 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The stock was acquired at an average cost of GBX 3,721 ($48.94) per share, with a total value of £372.10 ($489.41). Also, insider W Sam H. Laidlaw bought 7,500 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were acquired at an average cost of GBX 3,420 ($44.98) per share, with a total value of £256,500 ($337,366.83).
About Rio Tinto plc
Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.
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