Rio Tinto plc (RIO) Given “Outperform” Rating at Macquarie

Macquarie reaffirmed their outperform rating on shares of Rio Tinto plc (LON:RIO) in a research note released on Tuesday morning. Macquarie currently has a GBX 4,300 ($56.53) price objective on the stock.

RIO has been the topic of several other reports. Deutsche Bank AG reaffirmed a buy rating and issued a GBX 4,300 ($56.53) price objective on shares of Rio Tinto plc in a report on Thursday, October 5th. J P Morgan Chase & Co set a GBX 3,950 ($51.93) price objective on shares of Rio Tinto plc and gave the company a buy rating in a report on Thursday, July 13th. Jefferies Group LLC upped their price objective on shares of Rio Tinto plc from GBX 4,000 ($52.59) to GBX 4,200 ($55.22) and gave the company a buy rating in a report on Thursday, August 31st. UBS AG set a GBX 3,750 ($49.30) price objective on shares of Rio Tinto plc and gave the company a buy rating in a report on Friday, August 11th. Finally, Goldman Sachs Group, Inc. (The) set a GBX 3,000 ($39.44) price objective on shares of Rio Tinto plc and gave the company a neutral rating in a report on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of GBX 3,813.75 ($50.14).

Rio Tinto plc (RIO) opened at 3609.00 on Tuesday. The company’s market capitalization is GBX 64.71 billion. The firm has a 50-day moving average of GBX 3,594.36 and a 200 day moving average of GBX 3,326.70. Rio Tinto plc has a 52-week low of GBX 2,550.05 and a 52-week high of GBX 4,110.29.

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The firm also recently announced a dividend, which was paid on Thursday, September 21st. Stockholders of record on Thursday, August 10th were given a GBX 83.13 ($1.09) dividend. This represents a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, August 10th.

In other Rio Tinto plc news, insider W Sam H. Laidlaw bought 7,500 shares of Rio Tinto plc stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of GBX 3,420 ($44.96) per share, for a total transaction of £256,500 ($337,233.76). Also, insider Jean-Sébastien Jacques bought 11 shares of Rio Tinto plc stock in a transaction dated Monday, July 17th. The stock was acquired at an average price of GBX 3,501 ($46.03) per share, with a total value of £385.11 ($506.32).

Rio Tinto plc Company Profile

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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