Rio Tinto (LON:RIO) has been assigned a GBX 4,200 ($54.88) target price by analysts at Goldman Sachs Group in a report issued on Monday, November 12th. The brokerage presently has a “neutral” rating on the stock. Goldman Sachs Group’s target price would indicate a potential upside of 17.17% from the stock’s current price.
Several other analysts also recently weighed in on RIO. Liberum Capital reaffirmed a “sell” rating on shares of Rio Tinto in a research note on Wednesday, August 1st. Royal Bank of Canada downgraded shares of Rio Tinto from a “sector perform” rating to an “underperform” rating and decreased their price target for the company from GBX 3,900 ($50.96) to GBX 3,400 ($44.43) in a research note on Wednesday, July 25th. UBS Group reaffirmed a “buy” rating on shares of Rio Tinto in a research note on Thursday, July 26th. HSBC set a GBX 4,950 ($64.68) price target on shares of Rio Tinto and gave the company a “buy” rating in a research note on Wednesday, July 18th. Finally, Deutsche Bank set a GBX 4,700 ($61.41) price target on shares of Rio Tinto and gave the company a “neutral” rating in a research note on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of GBX 4,208.75 ($54.99).
Shares of LON:RIO traded up GBX 71 ($0.93) during trading on Monday, reaching GBX 3,584.50 ($46.84). The company’s stock had a trading volume of 3,750,448 shares, compared to its average volume of 4,860,000. Rio Tinto has a 12 month low of GBX 2,882.50 ($37.66) and a 12 month high of GBX 4,226.56 ($55.23).
In related news, insider Jean-Sébastien Jacques sold 11,251 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of GBX 3,751 ($49.01), for a total transaction of £422,025.01 ($551,450.42). Also, insider Jakob Stausholm sold 15,000 shares of the business’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of GBX 3,664 ($47.88), for a total transaction of £549,600 ($718,149.75). Insiders sold 26,258 shares of company stock worth $97,187,925 over the last ninety days.
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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