Societe Generale upgraded shares of Rio Tinto plc (LON:RIO) to a buy rating in a research report report published on Thursday morning. They currently have GBX 4,400 ($57.87) target price on the stock, up from their previous target price of GBX 3,600 ($47.35).
Several other equities research analysts have also recently commented on the company. Goldman Sachs Group, Inc. (The) restated a neutral rating and issued a GBX 2,900 ($38.14) target price on shares of Rio Tinto plc in a research note on Friday, July 14th. Macquarie restated an outperform rating and issued a GBX 4,500 ($59.19) target price on shares of Rio Tinto plc in a research note on Wednesday, August 30th. J P Morgan Chase & Co boosted their target price on Rio Tinto plc from GBX 4,000 ($52.61) to GBX 4,100 ($53.93) and gave the company an overweight rating in a research note on Tuesday, September 5th. HSBC Holdings plc restated a buy rating and issued a GBX 3,800 ($49.98) target price on shares of Rio Tinto plc in a research note on Wednesday, August 30th. Finally, Deutsche Bank AG boosted their target price on Rio Tinto plc from GBX 4,300 ($56.56) to GBX 4,500 ($59.19) and gave the company a buy rating in a research note on Friday, October 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of GBX 3,907.25 ($51.39).
Rio Tinto plc (LON RIO) traded up GBX 23 ($0.30) during midday trading on Thursday, reaching GBX 3,701 ($48.68). Rio Tinto plc has a 12 month low of GBX 2,882.50 ($37.91) and a 12 month high of GBX 3,831.50 ($50.39).
COPYRIGHT VIOLATION WARNING: “Rio Tinto plc (RIO) Raised to Buy at Societe Generale” was posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://sportsperspectives.com/2017/11/12/rio-tinto-plc-rio-raised-to-buy-at-societe-generale.html.
In other news, insider Jean-Sébastien Jacques acquired 10 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were purchased at an average cost of GBX 3,721 ($48.94) per share, with a total value of £372.10 ($489.41). Also, insider W Sam H. Laidlaw acquired 7,500 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was purchased at an average cost of GBX 3,420 ($44.98) per share, for a total transaction of £256,500 ($337,366.83).
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.
Receive News & Ratings for Rio Tinto plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto plc and related companies with MarketBeat.com's FREE daily email newsletter.