Rio Tinto (RIO) Given a GBX 4,200 Price Target at Royal Bank of Canada

Rio Tinto (LON:RIO) received a GBX 4,200 ($56.96) price objective from stock analysts at Royal Bank of Canada in a research note issued on Thursday. The brokerage presently has a “neutral” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 2.50% from the stock’s current price.

RIO has been the subject of several other reports. Goldman Sachs Group set a GBX 3,000 ($40.68) price objective on Rio Tinto and gave the stock a “neutral” rating in a research note on Wednesday, October 18th. Credit Suisse Group boosted their price objective on Rio Tinto from GBX 4,000 ($54.24) to GBX 4,300 ($58.31) and gave the stock an “outperform” rating in a research note on Thursday, October 26th. boosted their price objective on Rio Tinto from GBX 3,900 ($52.89) to GBX 4,000 ($54.24) and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Deutsche Bank reiterated a “buy” rating and set a GBX 4,300 ($58.31) price objective on shares of Rio Tinto in a research note on Thursday, October 5th. Finally, Macquarie reiterated an “outperform” rating and set a GBX 4,300 ($58.31) price objective on shares of Rio Tinto in a research note on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of GBX 4,009.75 ($54.38).

Shares of Rio Tinto (RIO) opened at GBX 4,097.50 ($55.57) on Thursday. Rio Tinto has a 52 week low of GBX 2,882.50 ($39.09) and a 52 week high of GBX 4,226.56 ($57.32). The company has a market capitalization of $73,740.00 and a P/E ratio of 1,619.57.

In other news, insider Christopher Lynch purchased 26,066 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were bought at an average cost of GBX 3,490 ($47.33) per share, for a total transaction of £909,703.40 ($1,233,663.41). Also, insider Jean-Sébastien Jacques purchased 10 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were purchased at an average price of GBX 3,721 ($50.46) per share, for a total transaction of £372.10 ($504.61).

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About Rio Tinto

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 (LON:RIO)

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