Rio Tinto’s (RIO) “Buy” Rating Reiterated at Macquarie

Macquarie reaffirmed their buy rating on shares of Rio Tinto plc (LON:RIO) in a research note released on Monday, November 6th.

Several other equities research analysts have also recently issued reports on RIO. UBS AG set a GBX 3,750 ($49.32) price objective on shares of Rio Tinto and gave the stock a buy rating in a research report on Friday, August 11th. Goldman Sachs Group Inc set a GBX 3,000 ($39.46) price objective on shares of Rio Tinto and gave the stock a neutral rating in a research report on Tuesday, August 15th. J P Morgan Chase & Co set a GBX 4,000 ($52.61) price objective on shares of Rio Tinto and gave the stock a buy rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada reiterated a top pick rating and set a GBX 4,200 ($55.24) price target on shares of Rio Tinto in a research report on Wednesday, August 9th. Finally, S&P Global set a GBX 3,800 ($49.98) price target on shares of Rio Tinto and gave the company a neutral rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. Rio Tinto currently has a consensus rating of Buy and a consensus price target of GBX 3,907.25 ($51.39).

Rio Tinto (RIO) traded up £3,618.36 ($4,759.12) during trading hours on Monday, hitting £3,655 ($4,807.31). 2,852,609 shares of the stock traded hands, compared to its average volume of 3,950,000. Rio Tinto has a 12-month low of GBX 2,882.50 ($37.91) and a 12-month high of GBX 4,226.56 ($55.59).

In other Rio Tinto news, insider Jean-Sébastien Jacques bought 10 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were acquired at an average cost of GBX 3,721 ($48.94) per share, with a total value of £372.10 ($489.41).

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Rio Tinto 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.

Analyst Recommendations for Rio Tinto (LON:RIO)

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