Rio Tinto plc (RIO) Given “Outperform” Rating at Macquarie

Macquarie restated their outperform rating on shares of Rio Tinto plc (LON:RIO) in a report released on Monday morning. They currently have a GBX 4,000 ($50.96) target price on the stock.

Several other brokerages have also recently issued reports on RIO. Citigroup Inc. restated a neutral rating and issued a GBX 3,600 ($45.87) target price on shares of Rio Tinto plc in a report on Tuesday, February 21st. Canaccord Genuity raised their target price on shares of Rio Tinto plc from GBX 4,015 ($51.15) to GBX 4,525 ($57.65) and gave the stock a buy rating in a report on Monday, February 20th. Liberum Capital restated a sell rating and issued a GBX 2,450 ($31.21) target price on shares of Rio Tinto plc in a report on Friday, March 17th. Deutsche Bank AG raised their target price on shares of Rio Tinto plc from GBX 4,100 ($52.24) to GBX 4,140 ($52.75) and gave the stock a buy rating in a report on Friday, March 17th. Finally, BNP Paribas set a GBX 3,650 ($46.50) price target on shares of Rio Tinto plc and gave the stock a neutral rating in a research note on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, eight have issued 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 3,537.76 ($45.07).

Shares of Rio Tinto plc (LON:RIO) traded down 2.59% during mid-day trading on Monday, reaching GBX 3008.00. The company’s stock had a trading volume of 2,545,832 shares. The company has a 50-day moving average of GBX 3,104.57 and a 200-day moving average of GBX 3,242.98. The company’s market cap is GBX 54.12 billion. Rio Tinto plc has a 12 month low of GBX 1,932.00 and a 12 month high of GBX 3,718.50.

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In other Rio Tinto plc news, insider Christopher Lynch sold 7,582 shares of Rio Tinto plc stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of GBX 3,108 ($39.60), for a total value of £235,648.56 ($300,227.49). Also, insider Jean-Sébastien Jacques purchased 12 shares of Rio Tinto plc stock in a transaction on Monday, April 24th. The stock was bought at an average price of GBX 3,043 ($38.77) per share, for a total transaction of £365.16 ($465.23). Over the last quarter, insiders sold 7,599 shares of company stock worth $23,616,383.

About Rio Tinto plc

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LSE:RIO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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