Rio Tinto (RIO) Given a GBX 4,100 Price Target by Morgan Stanley Analysts

Rio Tinto (LON:RIO) has been assigned a GBX 4,100 ($55.60) price target by equities research analysts at Morgan Stanley in a research note issued on Thursday. The firm currently has a “neutral” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 1.68% from the company’s previous close.

Several other research firms also recently weighed in on RIO. HSBC reissued a “buy” rating and set a GBX 4,000 ($54.24) price objective on shares of Rio Tinto in a report on Monday, December 4th. Royal Bank of Canada set a GBX 4,200 ($56.96) price objective on Rio Tinto and gave the company a “neutral” rating in a report on Thursday. JPMorgan Chase & Co. raised their price objective on Rio Tinto from GBX 3,750 ($50.85) to GBX 3,850 ($52.21) and gave the company a “neutral” rating in a report on Thursday. Citigroup reissued a “buy” rating on shares of Rio Tinto in a report on Wednesday. Finally, UBS Group set a GBX 4,000 ($54.24) price objective on Rio Tinto and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of GBX 4,029.75 ($54.65).

Rio Tinto (LON RIO) traded up GBX 4.50 ($0.06) during midday trading on Thursday, hitting GBX 4,170 ($56.55). The company had a trading volume of 5,050,605 shares, compared to its average volume of 3,280,000. Rio Tinto has a 12 month low of GBX 2,882.50 ($39.09) and a 12 month high of GBX 4,226.56 ($57.32). The firm has a market cap of $73,950.00 and a P/E ratio of 1,668.00.

In other news, insider Jean-Sébastien Jacques bought 10 shares of Rio Tinto stock in a transaction dated Tuesday, October 17th. The stock was bought at an average cost of GBX 3,721 ($50.46) per share, for a total transaction of £372.10 ($504.61). Also, insider Christopher Lynch bought 26,066 shares of Rio Tinto stock in a transaction dated Friday, December 1st. The stock was purchased at an average price of GBX 3,490 ($47.33) per share, with a total value of £909,703.40 ($1,233,663.41).

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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.

Analyst Recommendations for Rio Tinto (LON:RIO)

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