Rio Tinto plc’s (RIO) Overweight Rating Reiterated at Barclays PLC

Barclays PLC reiterated their overweight rating on shares of Rio Tinto plc (LON:RIO) in a report issued on Wednesday, May 3rd. They currently have a GBX 4,300 ($55.51) price target on the stock.

A number of other brokerages have also recently commented on RIO. Macquarie reaffirmed an outperform rating and set a GBX 4,335 ($55.96) target price on shares of Rio Tinto plc in a report on Tuesday, February 14th. Societe Generale set a GBX 3,600 ($46.47) price target on shares of Rio Tinto plc and gave the stock a neutral rating in a research report on Thursday, February 16th. BNP Paribas reiterated a neutral rating and issued a GBX 3,600 ($46.47) price target on shares of Rio Tinto plc in a research report on Thursday, February 16th. Citigroup Inc reiterated a neutral rating and issued a GBX 3,600 ($46.47) price target on shares of Rio Tinto plc in a research report on Tuesday, February 21st. Finally, Morgan Stanley upped their price target on shares of Rio Tinto plc from GBX 3,220 ($41.56) to GBX 3,300 ($42.60) and gave the stock an equal weight rating in a research report on Wednesday, February 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of GBX 3,556.81 ($45.91).

Rio Tinto plc (LON:RIO) traded up 2.10% during midday trading on Wednesday, hitting GBX 3166.50. 2,817,395 shares of the stock were exchanged. The firm’s 50-day moving average price is GBX 3,101.31 and its 200 day moving average price is GBX 3,213.31. The firm’s market capitalization is GBX 56.97 billion. Rio Tinto plc has a 1-year low of GBX 1,853.00 and a 1-year high of GBX 3,718.50.

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In other news, insider Jean-Sébastien Jacques sold 12 shares of the firm’s stock in a transaction on Wednesday, April 19th. The stock was sold at an average price of GBX 3,031 ($39.12), for a total value of £363.72 ($469.50). Insiders sold 3,342 shares of company stock valued at $12,081,377 in the last quarter.

About Rio Tinto plc

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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