Rio Tinto plc (LON:RIO) Given a GBX 3,700 Price Target at UBS AG

UBS AG set a GBX 3,700 ($48.18) price objective on Rio Tinto plc (LON:RIO) in a research report released on Wednesday, August 2nd, reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. J P Morgan Chase & Co reaffirmed an overweight rating and issued a GBX 4,150 ($54.04) price objective on shares of Rio Tinto plc in a research note on Monday, May 22nd. Deutsche Bank AG reaffirmed a buy rating and issued a GBX 4,200 ($54.69) price objective on shares of Rio Tinto plc in a research note on Wednesday, July 19th. Barclays PLC cut their price objective on shares of Rio Tinto plc from GBX 4,490 ($58.47) to GBX 4,300 ($56.00) and set an overweight rating for the company in a research note on Friday, April 21st. HSBC Holdings plc reaffirmed a buy rating and issued a GBX 4,000 ($52.09) price objective on shares of Rio Tinto plc in a research note on Wednesday, April 19th. Finally, Liberum Capital reaffirmed a sell rating and issued a GBX 2,450 ($31.91) price objective on shares of Rio Tinto plc in a research note on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Rio Tinto plc currently has a consensus rating of Buy and an average target price of GBX 3,733.75 ($48.62).

Rio Tinto plc (LON:RIO) opened at 3370.00 on Wednesday. The company’s market cap is GBX 60.42 billion. Rio Tinto plc has a 52 week low of GBX 2,253.50 and a 52 week high of GBX 3,718.50. The company has a 50-day moving average of GBX 3,400.74 and a 200 day moving average of GBX 3,288.57.

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The firm also recently declared a dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 10th will be issued a dividend of GBX 83.13 ($1.08) per share. This represents a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, August 10th.

In other news, insider Jean-Sébastien Jacques bought 11 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was bought at an average cost of GBX 3,501 ($45.59) per share, for a total transaction of £385.11 ($501.51). Also, insider Christopher Lynch sold 7,582 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of GBX 3,108 ($40.47), for a total value of £235,648.56 ($306,874.02).

About Rio Tinto plc

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

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