Rio Tinto plc’s (RIO) “Overweight” Rating Reaffirmed at Barclays PLC

Barclays PLC reiterated their overweight rating on shares of Rio Tinto plc (LON:RIO) in a research note issued to investors on Tuesday, August 8th. Barclays PLC currently has a GBX 4,100 ($53.23) price objective on the stock.

Other analysts have also recently issued reports about the company. UBS AG set a GBX 3,750 ($48.68) price objective on Rio Tinto plc and gave the stock a buy rating in a report on Thursday, April 20th. Deutsche Bank AG upped their price objective on Rio Tinto plc from GBX 4,140 ($53.75) to GBX 4,200 ($54.52) and gave the stock a buy rating in a report on Thursday, June 22nd. Credit Suisse Group reaffirmed an outperform rating on shares of Rio Tinto plc in a report on Tuesday, June 27th. Macquarie reaffirmed an outperform rating and set a GBX 4,000 ($51.93) price objective on shares of Rio Tinto plc in a report on Wednesday, August 2nd. Finally, J P Morgan Chase & Co reaffirmed an overweight rating and set a GBX 4,200 ($54.52) price objective on shares of Rio Tinto plc in a report on Friday, April 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of GBX 3,738.75 ($48.54).

Rio Tinto plc (RIO) remained flat at GBX 3429.50 on Tuesday. 4,045,776 shares of the company’s stock were exchanged. Rio Tinto plc has a one year low of GBX 2,253.50 and a one year high of GBX 3,718.50. The firm’s market capitalization is GBX 61.49 billion. The company has a 50-day moving average of GBX 3,434.82 and a 200-day moving average of GBX 3,286.42.

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

In other Rio Tinto plc news, insider Christopher Lynch sold 7,582 shares of the firm’s stock in a transaction that occurred 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). Also, insider W Sam H. Laidlaw acquired 7,500 shares of the company’s stock in a transaction on Monday, August 14th. The stock was acquired at an average cost of GBX 3,420 ($44.40) per share, for a total transaction of £256,500 ($332,987.15).

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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