Trade Report: Today: Rio Tinto plc (RIO) Price Target Increased to GBX 3,650 by Analysts at JPMorgan Chase & Co.

Today: Rio Tinto plc (RIO) Price Target Increased to GBX 3,650 by Analysts at JPMorgan Chase & Co.

Rio Tinto plc (LON:RIO) had its price objective raised by JPMorgan Chase & Co. from GBX 3,200 ($39.98) to GBX 3,650 ($45.60) in a report published on Friday morning. JPMorgan Chase & Co. currently has an overweight rating on the stock.

RIO has been the subject of several other research reports. Credit Suisse Group AG boosted their price objective on Rio Tinto plc from GBX 2,100 ($26.24) to GBX 2,300 ($28.74) and gave the company a neutral rating in a report on Monday, September 19th. Macquarie restated an outperform rating and set a GBX 3,500 ($43.73) price objective on shares of Rio Tinto plc in a report on Friday, October 28th. Barclays PLC restated an overweight rating and set a GBX 2,600 ($32.48) price objective on shares of Rio Tinto plc in a report on Thursday, August 4th. Deutsche Bank AG restated a buy rating and set a GBX 3,230 ($40.35) price objective on shares of Rio Tinto plc in a report on Monday, August 8th. Finally, Jefferies Group boosted their price objective on Rio Tinto plc from GBX 2,600 ($32.48) to GBX 2,800 ($34.98) and gave the company a buy rating in a report on Tuesday, August 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of GBX 2,881.56 ($36.00).

Shares of Rio Tinto plc (LON:RIO) opened at 3106.50 on Friday. The firm’s 50-day moving average price is GBX 2,838.65 and its 200 day moving average price is GBX 2,414.85. The firm’s market cap is GBX 55.88 billion. Rio Tinto plc has a one year low of GBX 1,557.00 and a one year high of GBX 3,217.00.

In other news, insider Jean-Sébastien Jacques acquired 14 shares of Rio Tinto plc 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).

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