Societe Generale upgraded shares of Rio Tinto plc (LON:RIO) to a buy rating in a research note released on Thursday. The brokerage currently has GBX 4,400 ($57.87) target price on the stock, up from their prior target price of GBX 3,600 ($47.35).
RIO has been the subject of several other reports. Deutsche Bank AG increased their price target on shares of Rio Tinto plc from GBX 4,200 ($55.24) to GBX 4,300 ($56.56) and gave the stock a buy rating in a report on Tuesday, September 12th. UBS AG set a GBX 3,750 ($49.32) price target on shares of Rio Tinto plc and gave the stock a buy rating in a report on Wednesday, August 30th. HSBC Holdings plc reissued a buy rating and set a GBX 3,800 ($49.98) price target on shares of Rio Tinto plc in a report on Wednesday, August 30th. Jefferies Group LLC increased their price target on shares of Rio Tinto plc from GBX 4,000 ($52.61) to GBX 4,200 ($55.24) and gave the stock a buy rating in a report on Thursday, August 31st. Finally, Credit Suisse Group reissued an outperform rating and set a GBX 4,000 ($52.61) price target on shares of Rio Tinto plc in a report on Thursday, September 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of GBX 3,907.25 ($51.39).
Rio Tinto plc (RIO) traded up GBX 14.50 ($0.19) during midday trading on Thursday, reaching GBX 3,709.50 ($48.79). 1,813,214 shares of the company traded hands, compared to its average volume of 3,560,000. Rio Tinto plc has a 52-week low of GBX 2,882.50 ($37.91) and a 52-week high of GBX 3,831.50 ($50.39).
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In other news, insider Jean-Sébastien Jacques bought 10 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The shares were purchased at an average price of GBX 3,721 ($48.94) per share, for a total transaction of £372.10 ($489.41).
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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