Rio Tinto plc (LON:RIO) Stock Rating Reaffirmed by Macquarie

Rio Tinto plc (LON:RIO)‘s stock had its “outperform” rating reiterated by stock analysts at Macquarie in a research note issued to investors on Wednesday. They presently have a GBX 4,000 ($52.76) price objective on the stock. Macquarie’s price target would suggest a potential upside of 14.73% from the company’s previous close.

Several other equities analysts also recently commented on the stock. UBS AG set a GBX 3,700 ($48.81) target price on shares of Rio Tinto plc and gave the stock a “buy” rating in a research report on Wednesday. J P Morgan Chase & Co increased their target price on shares of Rio Tinto plc from GBX 3,950 ($52.10) to GBX 4,000 ($52.76) and gave the stock an “overweight” rating in a research report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a GBX 2,900 ($38.25) target price on shares of Rio Tinto plc in a research report on Thursday, July 20th. HSBC Holdings plc reissued a “buy” rating and set a GBX 3,800 ($50.13) target price on shares of Rio Tinto plc in a research report on Thursday, July 20th. Finally, Deutsche Bank AG reissued a “buy” rating and set a GBX 4,200 ($55.40) target price on shares of Rio Tinto plc in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of GBX 3,731.25 ($49.22).

Shares of Rio Tinto plc (LON RIO) opened at 3555.50 on Wednesday. The stock’s market cap is GBX 63.86 billion. The stock has a 50 day moving average price of GBX 3,305.60 and a 200 day moving average price of GBX 3,284.98. Rio Tinto plc has a 12 month low of GBX 2,253.50 and a 12 month high of GBX 3,718.50.

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In other Rio Tinto plc news, insider Christopher Lynch sold 7,582 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of GBX 3,108 ($41.00), for a total transaction of £235,648.56 ($310,841.00). Also, insider Jean-Sébastien Jacques purchased 11 shares of the business’s stock in a transaction on Monday, July 17th. The shares were acquired at an average price of GBX 3,501 ($46.18) per share, with a total value of £385.11 ($507.99).

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.