Rio Tinto (RIO) Given New GBX 4,300 Price Target at Barclays

Rio Tinto (LON:RIO) had its target price lowered by Barclays from GBX 4,500 ($60.57) to GBX 4,300 ($57.87) in a report published on Tuesday morning. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on RIO. Goldman Sachs Group set a GBX 3,000 ($40.38) target price on shares of Rio Tinto and gave the company a neutral rating in a research note on Tuesday, August 15th. UBS set a GBX 3,750 ($50.47) target price on shares of Rio Tinto and gave the company a buy rating in a research note on Friday, August 11th. Jefferies Group reaffirmed a buy rating and issued a GBX 4,200 ($56.53) target price on shares of Rio Tinto in a research note on Tuesday. Royal Bank Of Canada reaffirmed a top pick rating and issued a GBX 4,200 ($56.53) target price on shares of Rio Tinto in a research note on Wednesday, August 9th. Finally, Deutsche Bank reaffirmed a buy rating and issued a GBX 4,500 ($60.57) target price on shares of Rio Tinto in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of GBX 3,987.25 ($53.66).

Shares of Rio Tinto (LON:RIO) opened at GBX 3,457.44 ($46.53) on Tuesday. Rio Tinto has a fifty-two week low of GBX 2,882.50 ($38.80) and a fifty-two week high of GBX 4,226.56 ($56.89).

In related news, insider Christopher Lynch acquired 26,066 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was bought at an average cost of GBX 3,490 ($46.97) per share, for a total transaction of £909,703.40 ($1,224,365.28). Also, insider Jean-Sébastien Jacques acquired 10 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The shares were bought at an average price of GBX 3,721 ($50.08) per share, with a total value of £372.10 ($500.81).

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Rio Tinto 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.

Analyst Recommendations for Rio Tinto (LON:RIO)

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