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).
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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.
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