Rio Tinto plc’s (LON:RIO) “Neutral” Rating Reaffirmed at Goldman Sachs Group, Inc. (The)

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.

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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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