Rio Tinto plc (LON:RIO) had its target price increased by research analysts at Deutsche Bank AG from GBX 3,500 ($43.73) to GBX 3,700 ($46.23) in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the stock. Deutsche Bank AG’s price target would suggest a potential upside of 19.24% from the company’s current price.
A number of other research firms have also issued reports on RIO. HSBC reiterated a “buy” rating and set a GBX 3,300 ($41.23) price objective on shares of Rio Tinto plc in a research note on Friday. Societe Generale upped their target price on Rio Tinto plc from GBX 2,900 ($36.23) to GBX 3,000 ($37.48) and gave the stock a “hold” rating in a research note on Friday. Macquarie upped their target price on Rio Tinto plc from GBX 3,500 ($43.73) to GBX 3,700 ($46.23) and gave the stock an “outperform” rating in a research note on Monday, November 14th. Barclays PLC restated an “overweight” rating on shares of Rio Tinto plc in a research note on Thursday, November 10th. Finally, Jefferies Group upped their target price on Rio Tinto plc from GBX 3,100 ($38.73) to GBX 3,300 ($41.23) and gave the stock a “buy” rating in a research note on Thursday, November 10th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of GBX 2,811.56 ($35.13).
Rio Tinto plc (LON:RIO) opened at 3114.00 on Friday. Rio Tinto plc has a 1-year low of GBX 1,557.00 and a 1-year high of GBX 3,217.00. The firm’s market capitalization is GBX 56.01 billion. The company has a 50 day moving average price of GBX 2,825.88 and a 200-day moving average price of GBX 2,410.00.
In other news, insider Jean-Sébastien Jacques purchased 14 shares of the company’s stock in a transaction dated Monday, October 17th. The shares were purchased at an average cost of GBX 2,612 ($32.63) per share, for a total transaction of £365.68 ($456.87).
Rio Tinto plc Company Profile
Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth’s mineral resources. The Company’s segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.
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