Rio Tinto plc (LON:RIO) rose 2.9% on Wednesday . The company traded as high as GBX 3,688.50 ($48.67) and last traded at GBX 3,652.50 ($48.20). Approximately 5,091,839 shares changed hands during trading, an increase of 21% from the average daily volume of 4,215,620 shares. The stock had previously closed at GBX 3,548.50 ($46.83).
RIO has been the topic of a number of recent research reports. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a GBX 2,900 ($38.27) price target on shares of Rio Tinto plc in a research note on Friday, July 14th. Macquarie reiterated an “outperform” rating and set a GBX 4,500 ($59.38) price target on shares of Rio Tinto plc in a research note on Wednesday, August 30th. J P Morgan Chase & Co lifted their price target on shares of Rio Tinto plc from GBX 4,000 ($52.78) to GBX 4,100 ($54.10) and gave the stock an “overweight” rating in a research note on Tuesday, September 5th. HSBC Holdings plc reiterated a “buy” rating and set a GBX 3,800 ($50.15) price target on shares of Rio Tinto plc in a research note on Wednesday, August 30th. Finally, Jefferies Group LLC lifted their price target on shares of Rio Tinto plc from GBX 4,000 ($52.78) to GBX 4,200 ($55.42) and gave the stock a “buy” rating in a research note on Thursday, August 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of GBX 3,867.25 ($51.03).
In other Rio Tinto plc news, insider W Sam H. Laidlaw bought 7,500 shares of the stock in a transaction on Monday, August 14th. The stock was acquired at an average cost of GBX 3,420 ($45.13) per share, for a total transaction of £256,500 ($338,479.81). Also, insider Jean-Sébastien Jacques bought 10 shares of the stock in a transaction on Tuesday, October 17th. The stock was acquired at an average price of GBX 3,721 ($49.10) per share, with a total value of £372.10 ($491.03).
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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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