Brokerages Set Rio Tinto plc (RIO) Target Price at $4,286.92

Shares of Rio Tinto plc (LON:RIO) have been assigned an average recommendation of “Hold” from the nineteen brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is GBX 4,316.43 ($56.23).

A number of research firms have issued reports on RIO. Deutsche Bank reissued a “hold” rating and issued a GBX 4,700 ($61.22) target price on shares of Rio Tinto in a research note on Tuesday, June 26th. Credit Suisse Group upped their target price on Rio Tinto from GBX 4,300 ($56.01) to GBX 5,000 ($65.13) and gave the stock an “outperform” rating in a report on Wednesday, June 27th. Cfra set a GBX 4,200 ($54.71) target price on Rio Tinto and gave the stock a “neutral” rating in a report on Tuesday, July 17th. JPMorgan Chase & Co. set a GBX 4,950 ($64.48) target price on Rio Tinto and gave the stock a “neutral” rating in a report on Thursday, August 2nd. Finally, Barclays dropped their target price on Rio Tinto from GBX 4,100 ($53.41) to GBX 3,750 ($48.85) and set an “equal weight” rating on the stock in a report on Monday, August 6th.

Shares of Rio Tinto stock traded down GBX 23 ($0.30) during trading on Wednesday, reaching GBX 3,898 ($50.78). 2,584,365 shares of the company were exchanged, compared to its average volume of 4,860,000. Rio Tinto has a twelve month low of GBX 2,882.50 ($37.55) and a twelve month high of GBX 4,226.56 ($55.05).

The firm also recently disclosed a dividend, which was paid on Thursday, September 20th. Shareholders of record on Thursday, August 9th were paid a GBX 96.82 ($1.26) dividend. The ex-dividend date of this dividend was Thursday, August 9th. This represents a yield of 2.41%.

In other Rio Tinto news, insider Jean-Sébastien Jacques sold 7 shares of the company’s stock in a transaction that occurred on Thursday, July 19th. The stock was sold at an average price of GBX 4,078 ($53.12), for a total value of £285.46 ($371.84).

Rio Tinto Company Profile

Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.

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Analyst Recommendations for Rio Tinto (LON:RIO)

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