Rio Tinto (RIO) Given a GBX 4,200 Price Target by Royal Bank of Canada Analysts

Royal Bank of Canada set a GBX 4,200 ($56.96) price objective on Rio Tinto (LON:RIO) in a research report sent to investors on Thursday. The firm currently has a neutral rating on the stock.

A number of other analysts also recently issued reports on RIO. Macquarie reiterated an outperform rating and set a GBX 4,500 ($61.03) price target on shares of Rio Tinto in a research report on Thursday, September 14th. Deutsche Bank reiterated a buy rating and set a GBX 4,300 ($58.31) price target on shares of Rio Tinto in a research report on Friday, September 22nd. Goldman Sachs Group reiterated a neutral rating and set a GBX 3,000 ($40.68) price target on shares of Rio Tinto in a research report on Friday, September 22nd. Jefferies Group reiterated a buy rating and set a GBX 4,200 ($56.96) price target on shares of Rio Tinto in a research report on Thursday, September 21st. Finally, JPMorgan Chase & Co. reiterated an overweight rating and set a GBX 4,100 ($55.60) price target on shares of Rio Tinto in a research report on Monday, September 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of GBX 4,029.75 ($54.65).

Shares of Rio Tinto (RIO) traded up GBX 4.50 ($0.06) during midday trading on Thursday, reaching GBX 4,170 ($56.55). The company’s stock had a trading volume of 5,050,605 shares, compared to its average volume of 3,280,000. Rio Tinto has a fifty-two week low of GBX 2,882.50 ($39.09) and a fifty-two week high of GBX 4,226.56 ($57.32). The company has a market cap of $73,950.00 and a P/E ratio of 1,668.00.

In related news, insider Jean-Sébastien Jacques purchased 10 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were acquired at an average cost of GBX 3,721 ($50.46) per share, with a total value of £372.10 ($504.61). Also, insider Christopher Lynch purchased 26,066 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was bought at an average cost of GBX 3,490 ($47.33) per share, for a total transaction of £909,703.40 ($1,233,663.41).

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About Rio Tinto

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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