Rio Tinto (RIO) Given a GBX 3,950 Price Target at Goldman Sachs Group

Rio Tinto (LON:RIO) received a GBX 3,950 ($51.13) price objective from equities research analysts at Goldman Sachs Group in a research note issued on Wednesday, July 18th. The brokerage presently has a “neutral” rating on the stock. Goldman Sachs Group’s price target would suggest a potential upside of 3.87% from the stock’s current price.

Several other analysts have also commented on RIO. Deutsche Bank set a GBX 4,700 ($60.84) price target on Rio Tinto and gave the company a “neutral” rating in a research note on Wednesday, July 18th. Barclays reduced their price objective on Rio Tinto from GBX 4,300 ($55.66) to GBX 4,100 ($53.07) and set an “equal weight” rating on the stock in a research note on Wednesday, July 18th. Cfra set a GBX 4,200 ($54.37) price target on Rio Tinto and gave the company a “neutral” rating in a research note on Tuesday, July 17th. Credit Suisse Group set a GBX 5,000 ($64.72) price target on Rio Tinto and gave the company a “buy” rating in a research note on Tuesday, July 17th. Finally, JPMorgan Chase & Co. set a GBX 5,150 ($66.67) price target on Rio Tinto and gave the company a “neutral” rating in a research note on Tuesday, July 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of GBX 4,193.33 ($54.28).

Shares of RIO traded down GBX 78.50 ($1.02) on Wednesday, reaching GBX 3,803 ($49.23). 6,642,488 shares of the stock traded hands, compared to its average volume of 4,860,000. Rio Tinto has a 12 month low of GBX 2,882.50 ($37.31) and a 12 month high of GBX 4,226.56 ($54.71).

In other news, insider Jean-Sébastien Jacques sold 4,759 shares of the firm’s stock in a transaction that occurred on Thursday, May 31st. The stock was sold at an average price of GBX 4,247 ($54.98), for a total value of £202,114.73 ($261,637.19).

About Rio Tinto

Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.

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Analyst Recommendations for Rio Tinto (LON:RIO)

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