Macquarie Reaffirms “Outperform” Rating for Rio Tinto plc (RIO)

Macquarie restated their outperform rating on shares of Rio Tinto plc (LON:RIO) in a research note published on Tuesday morning. They currently have a GBX 4,300 ($56.53) price objective on the stock.

A number of other research analysts also recently commented on RIO. Goldman Sachs Group, Inc. (The) set a GBX 2,800 ($36.81) target price on shares of Rio Tinto plc and gave the company a neutral rating in a research report on Tuesday, June 13th. Barclays PLC reaffirmed an overweight rating and issued a GBX 4,300 ($56.53) target price on shares of Rio Tinto plc in a research report on Friday, June 16th. Citigroup Inc. reaffirmed a buy rating and issued a GBX 3,400 ($44.70) target price on shares of Rio Tinto plc in a research report on Monday, June 19th. Deutsche Bank AG increased their target price on shares of Rio Tinto plc from GBX 4,140 ($54.43) to GBX 4,200 ($55.22) and gave the company a buy rating in a research report on Thursday, June 22nd. Finally, Credit Suisse Group reaffirmed an outperform rating on shares of Rio Tinto plc in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of GBX 3,823.75 ($50.27).

Shares of Rio Tinto plc (LON:RIO) opened at 3671.00 on Tuesday. The stock’s 50 day moving average is GBX 3,594.80 and its 200 day moving average is GBX 3,330.17. Rio Tinto plc has a 1-year low of GBX 2,550.05 and a 1-year high of GBX 4,110.29. The firm’s market capitalization is GBX 65.82 billion.

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The business also recently disclosed a dividend, which was paid on Thursday, September 21st. Investors of record on Thursday, August 10th were paid a GBX 83.13 ($1.09) dividend. This represents a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, August 10th.

In other Rio Tinto plc news, insider W Sam H. Laidlaw bought 7,500 shares of the company’s stock in a transaction on Monday, August 14th. The stock was purchased at an average cost of GBX 3,420 ($44.96) per share, for a total transaction of £256,500 ($337,233.76). Also, insider Jean-Sébastien Jacques bought 11 shares of the company’s stock in a transaction on Monday, July 17th. The shares were acquired at an average price of GBX 3,501 ($46.03) per share, with a total value of £385.11 ($506.32).

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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