Rio Tinto plc (RIO) Downgraded by Royal Bank Of Canada

Royal Bank Of Canada cut shares of Rio Tinto plc (LON:RIO) from a top pick rating to an outperform rating in a research note published on Tuesday morning, MarketBeat.com reports. The firm currently has GBX 4,200 ($54.52) price objective on the stock.

RIO has been the topic of several other reports. J P Morgan Chase & Co lowered their target price on Rio Tinto plc from GBX 4,200 ($54.52) to GBX 4,150 ($53.88) and set an overweight rating on the stock in a report on Tuesday, May 2nd. S&P Global set a GBX 3,400 ($44.14) target price on Rio Tinto plc and gave the stock a buy rating in a report on Thursday, April 20th. Liberum Capital restated a sell rating and set a GBX 2,400 ($31.16) target price on shares of Rio Tinto plc in a report on Thursday, April 20th. Barclays PLC restated an overweight rating on shares of Rio Tinto plc in a report on Tuesday, July 4th. Finally, HSBC Holdings plc lowered their target price on Rio Tinto plc from GBX 3,850 ($49.98) to GBX 3,800 ($49.33) and set a buy rating on the stock in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of GBX 3,738.75 ($48.54).

Shares of Rio Tinto plc (LON:RIO) opened at 3429.50 on Tuesday. The stock’s market capitalization is GBX 61.49 billion. Rio Tinto plc has a 12 month low of GBX 2,253.50 and a 12 month high of GBX 3,718.50. The firm’s 50-day moving average price is GBX 3,434.82 and its 200-day moving average price is GBX 3,285.27.

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The business also recently disclosed a dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 10th will be given a dividend of GBX 83.13 ($1.08) per share. This represents a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, August 10th.

In related news, insider W Sam H. Laidlaw acquired 7,500 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average price of GBX 3,420 ($44.40) per share, with a total value of £256,500 ($332,987.15). Also, insider Christopher Lynch sold 7,582 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of GBX 3,108 ($40.35), for a total value of £235,648.56 ($305,917.90).

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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