Credit Suisse Group restated their outperform rating on shares of Rio Tinto plc (LON:RIO) in a report issued on Thursday morning. Credit Suisse Group currently has a GBX 4,000 ($51.66) target price on the stock.
RIO has been the subject of a number of other research reports. UBS AG set a GBX 3,750 ($48.43) price objective on shares of Rio Tinto plc and gave the company a buy rating in a research report on Wednesday, August 30th. HSBC Holdings plc restated a buy rating and issued a GBX 3,800 ($49.08) target price on shares of Rio Tinto plc in a research report on Wednesday, August 30th. Barclays PLC restated an overweight rating on shares of Rio Tinto plc in a research report on Tuesday, July 4th. Jefferies Group LLC upped their target price on shares of Rio Tinto plc from GBX 4,000 ($51.66) to GBX 4,200 ($54.24) and gave the stock a buy rating in a research report on Thursday, August 31st. Finally, Royal Bank Of Canada set a GBX 4,200 ($54.24) target price on shares of Rio Tinto plc and gave the stock a buy rating in a research report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company. Rio Tinto plc currently has an average rating of Buy and an average target price of GBX 3,796.25 ($49.03).
Rio Tinto plc (LON:RIO) opened at 3630.50 on Thursday. Rio Tinto plc has a 12-month low of GBX 2,253.50 and a 12-month high of GBX 3,784.50. The company’s 50 day moving average price is GBX 3,544.35 and its 200-day moving average price is GBX 3,299.73. The stock’s market cap is GBX 65.09 billion.
Rio Tinto plc (LON:RIO) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by $0.21. Rio Tinto plc had a net margin of 17.01% and a return on equity of 16.16%. On average, analysts forecast that Rio Tinto plc will post $4.28 EPS for the current year.
The firm also recently announced a dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 10th will be paid a dividend of GBX 83.13 ($1.07) per share. This represents a yield of 2.31%. The ex-dividend date of this dividend is Thursday, August 10th.
In other news, insider W Sam H. Laidlaw purchased 7,500 shares of Rio Tinto plc stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average price of GBX 3,420 ($44.17) per share, for a total transaction of £256,500 ($331,266.95). Also, insider Jean-Sébastien Jacques purchased 11 shares of Rio Tinto plc stock in a transaction that occurred on Monday, July 17th. The stock was purchased at an average price of GBX 3,501 ($45.22) per share, with a total value of £385.11 ($497.37).
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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