Rio Tinto plc’s (RIO) Buy Rating Reiterated at Deutsche Bank AG
Rio Tinto plc (LON:RIO)‘s stock had its “buy” rating reissued by investment analysts at Deutsche Bank AG in a research report issued to clients and investors on Tuesday. They currently have a GBX 3,160 ($42.09) price target on the stock. Deutsche Bank AG’s price target indicates a potential upside of 34.47% from the company’s current price.
A number of other brokerages have also commented on RIO. Jefferies Group restated a “buy” rating on shares of Rio Tinto plc in a report on Friday, July 15th. Citigroup Inc. set a GBX 2,500 ($33.30) price target on Rio Tinto plc and gave the company a “neutral” rating in a report on Wednesday, July 13th. Credit Suisse Group AG boosted their price target on Rio Tinto plc from GBX 2,100 ($27.97) to GBX 2,300 ($30.63) and gave the company a “neutral” rating in a report on Monday, July 18th. Canaccord Genuity restated a “buy” rating and issued a GBX 2,660 ($35.43) price target on shares of Rio Tinto plc in a report on Tuesday, July 19th. Finally, Investec boosted their price target on Rio Tinto plc from GBX 2,497 ($33.26) to GBX 2,948 ($39.26) and gave the company a “buy” rating in a report on Tuesday, July 19th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company. Rio Tinto plc currently has a consensus rating of “Hold” and a consensus price target of GBX 2,568.54 ($34.21).
Shares of Rio Tinto plc (LON:RIO) traded down 0.82% during mid-day trading on Tuesday, hitting GBX 2350.00. The stock had a trading volume of 3,672,520 shares. The stock’s market capitalization is GBX 42.27 billion. The stock has a 50 day moving average of GBX 2,414.74 and a 200-day moving average of GBX 2,170.26. 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 business also recently announced a dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, August 11th will be given 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 related news, insider Jacques,Jean-Sébastien bought 15 shares of the stock in a transaction that occurred on Monday, July 18th. The stock was acquired 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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