Trade Report: The Rio Tinto plc (RIO) Price Target Raised to GBX 3,245

The Rio Tinto plc (RIO) Price Target Raised to GBX 3,245

Rio Tinto plc (LON:RIO) had its price target raised by Deutsche Bank AG from GBX 3,230 ($42.16) to GBX 3,245 ($42.36) in a report issued on Wednesday. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also weighed in on RIO. Macquarie reissued an outperform rating and set a GBX 2,900 ($37.85) price target on shares of Rio Tinto plc in a research report on Thursday, August 4th. Beaufort Securities reissued a hold rating on shares of Rio Tinto plc in a research report on Thursday, August 4th. BNP Paribas raised their price target on shares of Rio Tinto plc from GBX 1,950 ($25.45) to GBX 2,000 ($26.11) and gave the company a neutral rating in a research report on Thursday, August 4th. JPMorgan Chase & Co. set a GBX 3,000 ($39.16) price target on shares of Rio Tinto plc and gave the company a buy rating in a research report on Thursday, July 14th. Finally, Jefferies Group reaffirmed a buy rating and issued a GBX 2,600 ($33.94) price objective on shares of Rio Tinto plc in a research report on Thursday, August 4th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company. Rio Tinto plc presently has a consensus rating of Hold and a consensus target price of GBX 2,606.16 ($34.02).

Shares of Rio Tinto plc (LON:RIO) opened at 2690.50 on Wednesday. Rio Tinto plc has a one year low of GBX 1,557.00 and a one year high of GBX 2,717.00. The company’s market cap is GBX 48.40 billion. The stock’s 50 day moving average is GBX 2,427.73 and its 200-day moving average is GBX 2,239.40.

The company also recently declared a dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, August 11th were issued a dividend of GBX 33.80 ($0.44) per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a yield of 1.39%.

In other news, insider Jacques,Jean-Sébastien purchased 15 shares of the stock in a transaction that occurred on Monday, July 18th. The stock was bought at an average cost of GBX 2,433 ($31.76) per share, for a total transaction of £364.95 ($476.37).

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