JPMorgan Chase & Co. Boosts Rio Tinto plc (RIO) Price Target to GBX 3,150

Rio Tinto plc (LON:RIO) had its price objective raised by JPMorgan Chase & Co. from GBX 3,050 ($39.81) to GBX 3,150 ($41.12) in a research report report published on Thursday. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on the company. Canaccord Genuity lifted their target price on Rio Tinto plc from GBX 2,660 ($34.72) to GBX 2,800 ($36.55) and gave the company a buy rating in a research report on Wednesday, July 27th. Deutsche Bank AG reiterated a buy rating and set a GBX 3,230 ($42.16) price target on shares of Rio Tinto plc in a report on Monday, August 8th. Jefferies Group reiterated a buy rating on shares of Rio Tinto plc in a report on Friday, July 15th. Goldman Sachs Group Inc. reiterated a neutral rating and set a GBX 1,925 ($25.13) price target on shares of Rio Tinto plc in a report on Tuesday, July 12th. Finally, Liberum Capital reiterated a sell rating and set a GBX 1,490 ($19.45) price target on shares of Rio Tinto plc in a report on Thursday, July 14th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of GBX 2,572.65 ($33.58).

Rio Tinto plc (LON:RIO) opened at 2359.00 on Thursday. The firm’s market capitalization is GBX 42.43 billion. Rio Tinto plc has a one year low of GBX 1,557.00 and a one year high of GBX 2,621.00. The stock has a 50 day moving average price of GBX 2,394.36 and a 200-day moving average price of GBX 2,189.22.

The business also recently declared a dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, August 11th will be issued a dividend of GBX 33.80 ($0.44) per share. The ex-dividend date is Thursday, August 11th. This represents a dividend yield of 1.39%.

In related news, insider Jacques,Jean-Sébastien purchased 15 shares of the stock in a transaction dated Monday, July 18th. The stock was bought at an average cost of GBX 2,433 ($31.76) per share, for a total transaction of £364.95 ($476.37).

About Rio Tinto plc

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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