Rio Tinto plc (LON:RIO) had its price objective increased by stock analysts at Deutsche Bank AG from GBX 4,300 ($56.53) to GBX 4,500 ($59.16) in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the stock. Deutsche Bank AG’s price objective would suggest a potential upside of 25.66% from the company’s previous close.
Other equities analysts have also recently issued research reports about the company. UBS AG set a GBX 3,700 ($48.65) target price on Rio Tinto plc and gave the company a “buy” rating in a research note on Thursday, July 6th. Credit Suisse Group reiterated an “outperform” rating on shares of Rio Tinto plc in a report on Tuesday, June 27th. Macquarie reiterated an “outperform” rating and set a GBX 4,000 ($52.59) price target on shares of Rio Tinto plc in a report on Wednesday, August 2nd. Barclays PLC reiterated an “overweight” rating and set a GBX 4,100 ($53.90) price target on shares of Rio Tinto plc in a report on Tuesday, August 8th. Finally, J P Morgan Chase & Co lifted their price target on Rio Tinto plc from GBX 4,000 ($52.59) to GBX 4,100 ($53.90) and gave the company an “overweight” rating in a report on Tuesday, September 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of GBX 3,823.75 ($50.27).
In other news, insider Jean-Sébastien Jacques acquired 11 shares of the stock in a transaction dated Monday, July 17th. The shares were acquired at an average cost of GBX 3,501 ($46.03) per share, for a total transaction of £385.11 ($506.32). Also, insider W Sam H. Laidlaw acquired 7,500 shares of the stock in a transaction dated Monday, August 14th. The shares were purchased at an average price of GBX 3,420 ($44.96) per share, for a total transaction of £256,500 ($337,233.76).
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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