Rio Tinto plc (LON:RIO)‘s stock had its “buy” rating reaffirmed by equities researchers at HSBC in a research report issued on Friday. They currently have a GBX 3,300 ($41.23) target price on the stock. HSBC’s price objective points to a potential upside of 6.35% from the company’s current price.
Several other research analysts also recently weighed in on RIO. Macquarie restated an “outperform” rating and set a GBX 2,900 ($36.23) price target on shares of Rio Tinto plc in a research report on Thursday, August 4th. Beaufort Securities restated a “hold” rating on shares of Rio Tinto plc in a research report on Thursday, August 4th. BNP Paribas increased their price objective on shares of Rio Tinto plc from GBX 1,950 ($24.36) to GBX 2,000 ($24.99) and gave the company a “neutral” rating in a report on Thursday, August 4th. Societe Generale set a GBX 2,900 ($36.23) price objective on shares of Rio Tinto plc and gave the company a “neutral” rating in a report on Monday. Finally, Jefferies Group reiterated a “buy” rating and issued a GBX 2,600 ($32.48) price objective on shares of Rio Tinto plc in a report on Thursday, August 4th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of GBX 2,843.81 ($35.53).
Shares of Rio Tinto plc (LON:RIO) opened at 3118.00 on Friday. The company’s market cap is GBX 56.09 billion. The stock’s 50 day moving average is GBX 2,825.88 and its 200 day moving average is GBX 2,410.00. Rio Tinto plc has a 1-year low of GBX 1,557.00 and a 1-year high of GBX 3,217.00.
In related news, insider Jean-Sébastien Jacques acquired 14 shares of the firm’s stock in a transaction that occurred on Monday, October 17th. The shares were purchased at an average price of GBX 2,612 ($32.63) per share, with a total value of £365.68 ($456.87).