Rio Tinto plc (RIO) Given “Overweight” Rating at J P Morgan Chase & Co
J P Morgan Chase & Co reissued their overweight rating on shares of Rio Tinto plc (LON:RIO) in a research note issued to investors on Sunday morning. J P Morgan Chase & Co currently has a GBX 4,100 ($54.38) price objective on the stock.
Other research analysts have also recently issued research reports about the stock. Deutsche Bank AG upped their target price on shares of Rio Tinto plc from GBX 4,140 ($54.91) to GBX 4,200 ($55.71) and gave the company a buy rating in a research report on Thursday, June 22nd. Bank of America Corporation set a GBX 4,500 ($59.69) target price on shares of Rio Tinto plc and gave the company a buy rating in a research report on Friday, June 30th. Royal Bank Of Canada set a GBX 4,200 ($55.71) price target on shares of Rio Tinto plc and gave the stock a buy rating in a research report on Thursday, June 29th. Citigroup Inc. reissued a buy rating and set a GBX 3,400 ($45.10) price target on shares of Rio Tinto plc in a research report on Monday, June 19th. Finally, Jefferies Group LLC reduced their price target on shares of Rio Tinto plc from GBX 3,800 ($50.40) to GBX 3,700 ($49.08) and set a buy rating on the stock in a research report on Thursday, June 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. Rio Tinto plc currently has an average rating of Buy and an average target price of GBX 3,796.25 ($50.35).
Rio Tinto plc (RIO) opened at 3611.50 on Friday. The firm’s 50-day moving average is GBX 3,570.68 and its 200-day moving average is GBX 3,317.41. Rio Tinto plc has a 52-week low of GBX 2,550.05 and a 52-week high of GBX 3,784.50. The stock’s market cap is GBX 64.75 billion.
The business also recently declared a dividend, which was paid on Thursday, September 21st. Shareholders of record on Thursday, August 10th were paid a GBX 83.13 ($1.10) dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a yield of 2.31%.
In related news, insider W Sam H. Laidlaw purchased 7,500 shares of the company’s stock in a transaction on Monday, August 14th. The shares were bought at an average cost of GBX 3,420 ($45.36) per share, for a total transaction of £256,500 ($340,230.80). Also, insider Jean-Sébastien Jacques purchased 11 shares of the company’s stock in a transaction on Monday, July 17th. The stock was bought at an average price of GBX 3,501 ($46.44) per share, for a total transaction of £385.11 ($510.82).
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.
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