Rio Tinto plc (LON:RIO)‘s stock had its “neutral” rating reaffirmed by investment analysts at Goldman Sachs Group, Inc. (The) in a report issued on Friday, July 14th. They presently have a GBX 2,900 ($37.77) target price on the stock. Goldman Sachs Group, Inc. (The)’s price objective suggests a potential downside of 13.95% from the stock’s current price.
Several other analysts also recently weighed in on the company. J P Morgan Chase & Co decreased their price objective on Rio Tinto plc from GBX 4,200 ($54.69) to GBX 4,150 ($54.04) and set an “overweight” rating for the company in a report on Tuesday, May 2nd. Deutsche Bank AG restated a “buy” rating and issued a GBX 4,140 ($53.91) price objective on shares of Rio Tinto plc in a report on Thursday, May 4th. Macquarie restated an “outperform” rating and issued a GBX 4,200 ($54.69) price objective on shares of Rio Tinto plc in a report on Thursday, April 13th. Jefferies Group LLC restated a “buy” rating on shares of Rio Tinto plc in a report on Wednesday, March 29th. Finally, Bank of America Corporation set a GBX 4,500 ($58.60) price objective on Rio Tinto plc and gave the company a “buy” rating in a report on Friday, June 30th. One 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 stock. Rio Tinto plc has an average rating of “Buy” and an average target price of GBX 3,733.75 ($48.62).
Shares of Rio Tinto plc (LON RIO) opened at 3370.00 on Friday. Rio Tinto plc has a 12-month low of GBX 2,253.50 and a 12-month high of GBX 3,718.50. The company’s 50-day moving average is GBX 3,400.74 and its 200-day moving average is GBX 3,288.57. The company’s market capitalization is GBX 60.42 billion.
In other Rio Tinto plc news, insider Christopher Lynch sold 7,582 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of GBX 3,108 ($40.47), for a total value of £235,648.56 ($306,874.02). Also, insider Jean-Sébastien Jacques acquired 11 shares of the stock in a transaction on Monday, July 17th. The stock was bought at an average price of GBX 3,501 ($45.59) per share, for a total transaction of £385.11 ($501.51).
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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