Rio Tinto plc (LON:RIO) had its price target increased by research analysts at Societe Generale from GBX 2,900 ($35.98) to GBX 3,000 ($37.22) in a report issued on Friday. The brokerage currently has a “hold” rating on the stock. Societe Generale’s price target suggests a potential downside of 3.75% from the stock’s previous close.
Several other equities research analysts also recently issued reports on the company. Credit Suisse Group AG reaffirmed a “neutral” rating and issued a GBX 2,300 ($28.53) price target on shares of Rio Tinto plc in a research report on Friday, July 29th. Deutsche Bank AG reaffirmed a “buy” rating and issued a GBX 3,160 ($39.20) price target on shares of Rio Tinto plc in a research report on Tuesday, August 2nd. JPMorgan Chase & Co. raised their price target on Rio Tinto plc from GBX 3,000 ($37.22) to GBX 3,050 ($37.84) and gave the company an “overweight” rating in a research report on Tuesday, August 2nd. Liberum Capital reaffirmed a “sell” rating and issued a GBX 1,590 ($19.72) price target on shares of Rio Tinto plc in a research report on Wednesday, August 3rd. Finally, Investec reaffirmed a “buy” rating on shares of Rio Tinto plc in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of GBX 2,881.56 ($35.75).
Shares of Rio Tinto plc (LON:RIO) opened at 3140.00 on Friday. The firm’s market capitalization is GBX 56.48 billion. Rio Tinto plc has a 12 month low of GBX 1,557.00 and a 12 month high of GBX 3,217.00. The stock’s 50 day moving average price is GBX 2,857.61 and its 200-day moving average price is GBX 2,428.37.
In related news, insider Jean-Sébastien Jacques bought 14 shares of Rio Tinto plc stock in a transaction that occurred on Monday, October 17th. The stock was purchased at an average cost of GBX 2,612 ($32.40) per share, with a total value of £365.68 ($453.64).