Citigroup Inc. Reiterates “GBX 2,600” Price Target for Rio Tinto plc (RIO)

Citigroup Inc. set a GBX 2,600 ($33.94) price objective on Rio Tinto plc (LON:RIO) in a research note published on Friday. The firm currently has a a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the company. Goldman Sachs Group Inc. upgraded Rio Tinto plc to a neutral rating and boosted their price objective for the company from GBX 1,330 ($17.36) to GBX 1,900 ($24.80) in a research note on Monday, June 27th. Liberum Capital reiterated a sell rating and set a GBX 1,590 ($20.75) price target on shares of Rio Tinto plc in a research report on Wednesday, August 3rd. Canaccord Genuity reiterated a buy rating and set a GBX 2,660 ($34.72) price target on shares of Rio Tinto plc in a research report on Tuesday, July 19th. Investec upped their price target on Rio Tinto plc from GBX 2,497 ($32.59) to GBX 2,948 ($38.48) and gave the company a buy rating in a research report on Tuesday, July 19th. Finally, Barclays PLC upped their price target on Rio Tinto plc from GBX 2,600 ($33.94) to GBX 2,800 ($36.55) and gave the company an overweight rating in a research report on Wednesday, September 21st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of GBX 2,596.31 ($33.89).

Rio Tinto plc (LON:RIO) opened at 2624.00 on Friday. The company’s market cap is GBX 47.20 billion. The company has a 50-day moving average of GBX 2,416.26 and a 200-day moving average of GBX 2,231.98. Rio Tinto plc has a one year low of GBX 1,557.00 and a one year high of GBX 2,685.50.

The firm also recently announced a dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, August 11th were issued a dividend of GBX 33.80 ($0.44) per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a dividend yield of 1.39%.

In other Rio Tinto plc news, insider Jacques,Jean-Sébastien bought 15 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The stock was bought at an average price of GBX 2,433 ($31.76) per share, for a total transaction of £364.95 ($476.37).

Rio Tinto plc Company Profile

Rio Tinto plc (Rio Tinto) is a global mining company. Rio Tinto focuses on finding, mining, and processing the Earth’s mineral resources. The Company operates through five product groups, including aluminum, copper, diamonds and minerals, energy product and iron ore. Its aluminum product group includes business includes bauxite mines, large-scale alumina refineries aluminum smelters.

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