Goldman Sachs Group Analysts Give Rio Tinto (RIO) a GBX 4,000 Price Target

Goldman Sachs Group set a GBX 4,000 ($52.10) price objective on Rio Tinto (LON:RIO) in a research note released on Thursday morning. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts have also issued reports on the stock. UBS Group reissued a buy rating and issued a GBX 4,700 ($61.22) price target on shares of Rio Tinto in a report on Wednesday, August 8th. Liberum Capital reissued a sell rating on shares of Rio Tinto in a report on Wednesday, August 1st. Barclays cut their target price on shares of Rio Tinto from GBX 4,100 ($53.41) to GBX 3,750 ($48.85) and set an equal weight rating on the stock in a research note on Monday, August 6th. AlphaValue raised shares of Rio Tinto to an add rating in a research note on Tuesday, June 5th. Finally, JPMorgan Chase & Co. raised shares of Rio Tinto from a neutral rating to an overweight rating and cut their target price for the company from GBX 4,950 ($64.48) to GBX 4,850 ($63.18) in a research note on Monday, September 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Rio Tinto currently has a consensus rating of Hold and a consensus target price of GBX 4,246.11 ($55.31).

Shares of Rio Tinto stock opened at GBX 3,596.50 ($46.85) on Thursday. Rio Tinto has a 12-month low of GBX 2,882.50 ($37.55) and a 12-month high of GBX 4,226.56 ($55.05).

The business also recently announced a dividend, which will be paid on Thursday, September 20th. Stockholders of record on Thursday, August 9th will be paid a dividend of GBX 96.82 ($1.26) per share. This represents a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, August 9th.

In other news, insider Jean-Sébastien Jacques sold 7 shares of Rio Tinto stock in a transaction dated Thursday, July 19th. The shares were sold at an average price of GBX 4,078 ($53.12), for a total transaction of £285.46 ($371.84).

About Rio Tinto

Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.

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Analyst Recommendations for Rio Tinto (LON:RIO)

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