Today, Rio Tinto plc (RIO) Price Target Raised to GBX 3,000 at Societe Generale

Today, Rio Tinto plc (RIO) Price Target Raised to GBX 3,000 at Societe Generale
Rio Tinto plc (LON:RIO) had its price objective hoisted by Societe Generale from GBX 2,900 ($36.23) to GBX 3,000 ($37.48) in a report released on Friday. The brokerage presently has a “hold” rating on the stock. Societe Generale’s target price indicates a potential downside of 3.32% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 3,200 ($39.98) price target on shares of Rio Tinto plc in a research report on Tuesday. Macquarie reiterated an “outperform” rating and issued a GBX 3,700 ($46.23) price target on shares of Rio Tinto plc in a research report on Sunday, November 20th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a GBX 3,000 ($37.48) price target on shares of Rio Tinto plc in a research report on Wednesday, November 16th. Deutsche Bank AG increased their price target on Rio Tinto plc from GBX 3,245 ($40.54) to GBX 3,250 ($40.60) and gave the company a “buy” rating in a research report on Monday, November 14th. Finally, HSBC assumed coverage on Rio Tinto plc in a research report on Thursday, November 10th. They issued a “buy” rating and a GBX 3,300 ($41.23) price target for the company. Three investment 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. Rio Tinto plc currently has a consensus rating of “Hold” and a consensus price target of GBX 2,843.81 ($35.53).

Rio Tinto plc (LON:RIO) traded down 0.133% during mid-day trading on Friday, reaching GBX 3098.875. 2,296,957 shares of the company were exchanged. Rio Tinto plc has a 12 month low of GBX 1,557.00 and a 12 month high of GBX 3,217.00. The company’s market cap is GBX 55.74 billion. The stock’s 50-day moving average is GBX 2,825.88 and its 200-day moving average is GBX 2,410.00.

In other news, insider Jean-Sébastien Jacques bought 14 shares of the company’s stock in a transaction dated Monday, October 17th. The stock was bought at an average price of GBX 2,612 ($32.63) per share, for a total transaction of £365.68 ($456.87).

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