Royal Bank of Canada restated their outperform rating on shares of Rio Tinto plc (LON:RIO) in a research report sent to investors on Thursday. The brokerage currently has a GBX 4,400 ($55.38) price objective on the stock.
Several other equities research analysts also recently issued reports on RIO. Jefferies Group LLC reiterated a buy rating and set a GBX 3,800 ($47.83) price target on shares of Rio Tinto plc in a report on Friday, January 6th. Barclays PLC upped their price target on Rio Tinto plc from GBX 3,200 ($40.28) to GBX 4,490 ($56.51) and gave the stock an overweight rating in a report on Monday, January 9th. Credit Suisse Group AG reiterated an outperform rating and set a GBX 3,600 ($45.31) price target on shares of Rio Tinto plc in a report on Tuesday, January 17th. HSBC Holdings plc reiterated a buy rating and set a GBX 4,000 ($50.35) price target on shares of Rio Tinto plc in a report on Tuesday, January 17th. Finally, Citigroup Inc restated a neutral rating and issued a GBX 3,500 ($44.05) price objective on shares of Rio Tinto plc in a research note on Tuesday, January 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of GBX 3,587.76 ($45.16).
Rio Tinto plc (LON:RIO) traded down 0.31% during mid-day trading on Thursday, reaching GBX 3058.50. The company had a trading volume of 6,146,677 shares. Rio Tinto plc has a one year low of GBX 1,853.00 and a one year high of GBX 3,718.50. The firm’s 50-day moving average is GBX 3,245.19 and its 200-day moving average is GBX 3,161.65. The firm’s market capitalization is GBX 55.03 billion.
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The business also recently disclosed a dividend, which was paid on Thursday, April 6th. Investors of record on Thursday, February 23rd were issued a dividend of GBX 100.56 ($1.27) per share. This is a boost from Rio Tinto plc’s previous dividend of $33.80. The ex-dividend date of this dividend was Thursday, February 23rd. This represents a yield of 2.98%.
In related news, insider Jean-Sébastien Jacques sold 3,325 shares of the stock in a transaction dated Monday, February 20th. The stock was sold at an average price of GBX 3,618 ($45.54), for a total transaction of £120,298.50 ($151,414.10).
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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