Societe Generale upgraded shares of Rio Tinto plc (LON:RIO) to a buy rating in a research note issued to investors on Thursday, November 9th. They currently have GBX 4,400 ($57.87) price objective on the stock, up from their prior price objective of GBX 3,600 ($47.35).
A number of other research analysts have also recently commented on RIO. UBS AG set a GBX 3,750 ($49.32) price objective on Rio Tinto plc and gave the company a buy rating in a report on Friday, August 11th. Goldman Sachs Group, Inc. (The) set a GBX 3,000 ($39.46) target price on Rio Tinto plc and gave the company a neutral rating in a research report on Tuesday, August 15th. J P Morgan Chase & Co set a GBX 4,000 ($52.61) target price on Rio Tinto plc and gave the company a buy rating in a research report on Wednesday, August 2nd. Macquarie reissued an outperform rating and issued a GBX 4,000 ($52.61) target price on shares of Rio Tinto plc in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reissued a top pick rating and issued a GBX 4,200 ($55.24) target price on shares of Rio Tinto plc in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of GBX 3,907.25 ($51.39).
Rio Tinto plc (RIO) traded up GBX 52 ($0.68) on Thursday, reaching GBX 3,625 ($47.68). The company had a trading volume of 2,435,988 shares, compared to its average volume of 3,890,000. Rio Tinto plc has a 12-month low of GBX 35.04 ($0.46) and a 12-month high of GBX 4,226.56 ($55.59).
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In related news, insider Jean-Sébastien Jacques bought 10 shares of the company’s stock in a transaction on Tuesday, October 17th. The stock was bought at an average cost of GBX 3,721 ($48.94) per share, with a total value of £372.10 ($489.41).
Rio Tinto plc Company Profile
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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