Rio Tinto plc (RIO) Receives Average Recommendation of “Buy” from Analysts

Rio Tinto plc (LON:RIO) has been assigned an average recommendation of “Buy” from the twenty brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is GBX 3,974.72 ($52.45).

RIO has been the topic of several recent research reports. Deutsche Bank AG reiterated a “buy” rating and issued a GBX 4,200 ($55.42) price target on shares of Rio Tinto plc in a research report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) set a GBX 2,900 ($38.27) price objective on shares of Rio Tinto plc and gave the company a “neutral” rating in a research report on Thursday, August 3rd. UBS AG set a GBX 3,750 ($49.49) price objective on shares of Rio Tinto plc and gave the company a “buy” rating in a research report on Wednesday, August 30th. HSBC Holdings plc restated a “buy” rating and set a GBX 3,800 ($50.15) price objective on shares of Rio Tinto plc in a research report on Wednesday, August 30th. Finally, Morgan Stanley raised their price objective on shares of Rio Tinto plc from GBX 3,260 ($43.02) to GBX 3,430 ($45.26) and gave the company an “equal weight” rating in a research report on Tuesday, July 18th.

In other Rio Tinto plc news, insider W Sam H. Laidlaw purchased 7,500 shares of Rio Tinto plc stock in a transaction dated Monday, August 14th. The stock was acquired at an average price of GBX 3,420 ($45.13) per share, for a total transaction of £256,500 ($338,479.81). Also, insider Jean-Sébastien Jacques purchased 10 shares of Rio Tinto plc stock in a transaction dated Tuesday, October 17th. The stock was acquired at an average price of GBX 3,721 ($49.10) per share, with a total value of £372.10 ($491.03).

Rio Tinto plc (LON:RIO) traded down 0.31% on Friday, reaching GBX 3554.50. 4,860,486 shares of the company were exchanged. Rio Tinto plc has a 12-month low of GBX 2,709.50 and a 12-month high of GBX 3,805.50. The firm has a 50-day moving average of GBX 3,571.74 and a 200 day moving average of GBX 3,358.20. The firm’s market capitalization is GBX 63.73 billion.

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Rio Tinto plc 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 plc (LON:RIO)

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