Rio Tinto plc (RIO) Shares Down 2.2%

Rio Tinto plc (LON:RIO)’s share price was down 2.2% during mid-day trading on Monday . The stock traded as low as GBX 3,621.50 ($47.61) and last traded at GBX 3,627 ($47.69). Approximately 2,976,284 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 4,319,920 shares. The stock had previously closed at GBX 3,710 ($48.78).

Several equities research analysts have recently weighed in on RIO shares. Deutsche Bank AG increased their price objective on shares of Rio Tinto plc from GBX 4,200 ($55.22) to GBX 4,300 ($56.53) and gave the stock a “buy” rating in a research report on Tuesday, September 12th. UBS AG set a GBX 3,750 ($49.30) price objective on shares of Rio Tinto plc and gave the stock a “buy” rating in a research report on Wednesday, August 30th. HSBC Holdings plc reiterated a “buy” rating and set a GBX 3,800 ($49.96) price objective on shares of Rio Tinto plc in a research report on Wednesday, August 30th. Barclays PLC reiterated an “overweight” rating on shares of Rio Tinto plc in a research report on Tuesday, July 4th. Finally, Jefferies Group LLC increased their price objective on shares of Rio Tinto plc from GBX 4,000 ($52.59) to GBX 4,200 ($55.22) and gave the stock a “buy” rating in a research report on Thursday, August 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of GBX 3,813.75 ($50.14).

The stock’s market cap is GBX 64.53 billion. The firm’s 50-day moving average price is GBX 3,594.36 and its 200-day moving average price is GBX 3,326.70.

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

In related news, insider W Sam H. Laidlaw bought 7,500 shares of the stock in a transaction on Monday, August 14th. The shares were acquired at an average price 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 the stock in a transaction on Monday, July 17th. The shares were bought at an average price of GBX 3,501 ($46.03) per share, for a total transaction of £385.11 ($506.32).

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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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