Trading Report: The Jefferies Group Raises Rio Tinto plc (RIO) Price Target to GBX 3,600

The Jefferies Group Raises Rio Tinto plc (RIO) Price Target to GBX 3,600

Rio Tinto plc (LON:RIO) had its target price hoisted by research analysts at Jefferies Group from GBX 3,300 ($41.23) to GBX 3,600 ($44.98) in a research note issued on Monday. The firm presently has a “buy” rating on the stock. Jefferies Group’s price target would indicate a potential upside of 15.64% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Citigroup Inc. lowered shares of Rio Tinto plc to a “sell” rating and cut their price objective for the company from GBX 2,600 ($32.48) to GBX 2,450 ($30.61) in a research report on Thursday, October 13th. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 3,400 ($42.48) price objective on shares of Rio Tinto plc in a research report on Tuesday, October 4th. Deutsche Bank AG reissued a “buy” rating and issued a GBX 3,230 ($40.35) price objective on shares of Rio Tinto plc in a research report on Monday, August 8th. Macquarie reissued an “outperform” rating and issued a GBX 3,300 ($41.23) price objective on shares of Rio Tinto plc in a research report on Monday, October 17th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 3,200 ($39.98) price target on shares of Rio Tinto plc in a research report on Monday, November 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. Rio Tinto plc has a consensus rating of “Buy” and a consensus target price of GBX 2,881.56 ($36.00).

Shares of Rio Tinto plc (LON:RIO) opened at 3112.248 on Monday. Rio Tinto plc has a 52-week low of GBX 1,557.00 and a 52-week high of GBX 3,217.00. The stock’s 50 day moving average is GBX 2,838.65 and its 200 day moving average is GBX 2,414.85. The stock’s market capitalization is GBX 55.98 billion.

In related news, insider Jean-Sébastien Jacques bought 14 shares of the stock in a transaction 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).

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