Rio Tinto (RIO) Rating Reiterated by Jefferies Group

Rio Tinto (LON:RIO)‘s stock had its “buy” rating reissued by stock analysts at Jefferies Group in a research report issued on Tuesday. They currently have a GBX 4,200 ($56.53) target price on the stock. Jefferies Group’s price target points to a potential upside of 18.64% from the stock’s current price.

A number of other brokerages have also recently commented on RIO. HSBC restated a “buy” rating and set a GBX 4,000 ($53.84) price target on shares of Rio Tinto in a research note on Monday. Macquarie restated a “buy” rating on shares of Rio Tinto in a research note on Monday, November 6th. Societe Generale upgraded shares of Rio Tinto to a “buy” rating and raised their price target for the stock from GBX 3,600 ($48.45) to GBX 4,400 ($59.22) in a research note on Thursday, November 9th. J P Morgan Chase & Co raised their price target on shares of Rio Tinto from GBX 4,000 ($53.84) to GBX 4,100 ($55.18) and gave the stock an “overweight” rating in a research note on Tuesday, September 5th. Finally, Morgan Stanley set a GBX 3,700 ($49.80) price target on shares of Rio Tinto and gave the stock a “neutral” rating in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of GBX 3,954.75 ($53.23).

Rio Tinto (LON RIO) opened at GBX 3,540 ($47.64) on Tuesday. Rio Tinto has a one year low of GBX 2,882.50 ($38.80) and a one year high of GBX 4,226.56 ($56.89).

In related news, insider Jean-Sébastien Jacques purchased 10 shares of the stock in a transaction that occurred on Tuesday, October 17th. The stock was acquired at an average price of GBX 3,721 ($50.08) per share, with a total value of £372.10 ($500.81).

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Rio Tinto 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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