Goldman Sachs Group Reiterates GBX 3,300 Price Target for Rio Tinto (LON:RIO)

Rio Tinto (LON:RIO) has been given a GBX 3,300 ($46.27) price target by analysts at Goldman Sachs Group in a report released on Tuesday, January 16th. The firm presently has a “neutral” rating on the stock. Goldman Sachs Group’s price objective indicates a potential downside of 12.89% from the company’s current price.

Several other research firms also recently commented on RIO. Morgan Stanley set a GBX 3,430 ($48.09) price objective on Rio Tinto and gave the stock a “neutral” rating in a report on Monday, September 25th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 4,100 ($57.49) price objective on shares of Rio Tinto in a research report on Sunday, October 1st. Jefferies Group reissued a “buy” rating and issued a GBX 4,200 ($58.89) price objective on shares of Rio Tinto in a research report on Thursday, September 21st. S&P Global set a GBX 3,800 ($53.28) price objective on shares of Rio Tinto and gave the company a “neutral” rating in a research report on Wednesday, October 18th. Finally, increased their price objective on shares of Rio Tinto from GBX 3,900 ($54.68) to GBX 4,000 ($56.09) and gave the company a “buy” rating in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of GBX 4,138.16 ($58.02).

Shares of Rio Tinto (RIO) traded up GBX 31.50 ($0.44) on Tuesday, reaching GBX 3,788.50 ($53.12). 5,570,000 shares of the company traded hands, compared to its average volume of 3,730,000. Rio Tinto has a 1 year low of GBX 2,882.50 ($40.42) and a 1 year high of GBX 4,226.56 ($59.26). The stock has a market cap of $68,440.00 and a P/E ratio of 1,082.43.

In other Rio Tinto news, insider Christopher Lynch purchased 26,066 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was purchased at an average price of GBX 3,490 ($48.93) per share, for a total transaction of £909,703.40 ($1,275,523.56).

ILLEGAL ACTIVITY WARNING: “Goldman Sachs Group Reiterates GBX 3,300 Price Target for Rio Tinto (LON:RIO)” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another domain, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The legal version of this story can be accessed at https://ledgergazette.com/2018/02/11/goldman-sachs-group-analysts-give-rio-tinto-rio-a-gbx-3300-price-target.html.

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)

Receive News & Ratings for Rio Tinto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply