Rio Tinto plc (RIO) Receives Buy Rating from Deutsche Bank AG
Rio Tinto plc (LON:RIO)‘s stock had its “buy” rating reissued by analysts at Deutsche Bank AG in a note issued to investors on Tuesday. They currently have a GBX 3,230 ($43.02) price objective on the stock. Deutsche Bank AG’s price target suggests a potential upside of 37.45% from the company’s current price.
Several other equities analysts have also commented on RIO. Canaccord Genuity increased their price objective on shares of Rio Tinto plc from GBX 2,660 ($35.43) to GBX 2,800 ($37.29) and gave the company a “buy” rating in a research report on Wednesday, July 27th. Jefferies Group reiterated a “buy” rating on shares of Rio Tinto plc in a research report on Friday, July 15th. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a GBX 1,925 ($25.64) price objective on shares of Rio Tinto plc in a research report on Tuesday, July 12th. Liberum Capital reiterated a “sell” rating and set a GBX 1,490 ($19.85) price objective on shares of Rio Tinto plc in a research report on Thursday, July 14th. Finally, Macquarie reiterated an “outperform” rating and set a GBX 2,900 ($38.63) price objective on shares of Rio Tinto plc in a research report on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the company. Rio Tinto plc has a consensus rating of “Hold” and an average price target of GBX 2,568.54 ($34.21).
Rio Tinto plc (LON:RIO) traded down 0.82% during trading on Tuesday, hitting GBX 2350.00. 3,672,520 shares of the company’s stock were exchanged. Rio Tinto plc has a 52-week low of GBX 1,557.00 and a 52-week high of GBX 2,621.00. The firm has a 50 day moving average price of GBX 2,414.74 and a 200 day moving average price of GBX 2,170.26. The company’s market cap is GBX 42.27 billion.
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The firm also recently disclosed a dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, August 11th will be paid a dividend of GBX 33.80 ($0.45) per share. This represents a yield of 1.39%. The ex-dividend date of this dividend is Thursday, August 11th.
In other Rio Tinto plc news, insider Jacques,Jean-Sébastien acquired 15 shares of the firm’s stock in a transaction on Monday, July 18th. The stock was acquired at an average cost of GBX 2,433 ($32.41) per share, for a total transaction of £364.95 ($486.08).
About Rio Tinto plc
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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