JPMorgan Chase & Co. Increases Rio Tinto plc (RIO) Price Target to GBX 3,050
Rio Tinto plc (LON:RIO) had its target price lifted by investment analysts at JPMorgan Chase & Co. from GBX 3,000 ($39.96) to GBX 3,050 ($40.62) in a research report issued to clients and investors on Tuesday. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price objective indicates a potential upside of 29.79% from the company’s previous close.
A number of other equities analysts have also issued reports on RIO. BNP Paribas reaffirmed a “neutral” rating and issued a GBX 2,000 ($26.64) target price on shares of Rio Tinto plc in a research report on Wednesday, May 4th. Citigroup Inc. set a GBX 2,000 ($26.64) target price on Rio Tinto plc and gave the company a “sell” rating in a research report on Monday, April 18th. Barclays PLC upped their target price on Rio Tinto plc from GBX 2,175 ($28.97) to GBX 2,300 ($30.63) and gave the company an “overweight” rating in a research report on Thursday, May 5th. Deutsche Bank AG reaffirmed a “buy” rating and issued a GBX 3,000 ($39.96) target price on shares of Rio Tinto plc in a research report on Wednesday, April 20th. Finally, Haitong Bank reaffirmed a “buy” rating and issued a GBX 2,515 ($33.50) target price on shares of Rio Tinto plc in a research report on Monday, April 11th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the stock. Rio Tinto plc presently has a consensus rating of “Hold” and an average target price of GBX 2,568.54 ($34.21).
Shares of Rio Tinto plc (LON:RIO) traded down 0.82% during midday trading on Tuesday, hitting GBX 2350.00. 3,672,520 shares of the company’s stock traded hands. The company has a 50 day moving average of GBX 2,414.74 and a 200 day moving average of GBX 2,170.26. The stock’s market cap is GBX 42.27 billion. Rio Tinto plc has a 52 week low of GBX 1,557.00 and a 52 week high of GBX 2,621.00.
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The company also recently declared a dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, August 11th will be paid a dividend of GBX 33.80 ($0.45) per share. This represents a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, August 11th.
In other news, insider Jacques,Jean-Sébastien purchased 15 shares of the business’s stock in a transaction dated Monday, July 18th. The stock was bought at an average cost of GBX 2,433 ($32.41) per share, with a total value of £364.95 ($486.08).
Rio Tinto plc Company Profile
Rio Tinto plc (Rio Tinto) is a global mining company. Rio Tinto focuses on finding, mining, and processing the Earth’s mineral resources. The Company operates through five product groups, including aluminum, copper, diamonds and minerals, energy product and iron ore. Its aluminum product group includes business includes bauxite mines, large-scale alumina refineries aluminum smelters.
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