Rio Tinto (LON:RIO) PT Set at GBX 4,950 by HSBC

HSBC set a GBX 4,950 ($64.08) price objective on Rio Tinto (LON:RIO) in a research note published on Wednesday, July 18th. The firm currently has a buy rating on the stock.

Several other analysts have also commented on RIO. Goldman Sachs Group set a GBX 3,950 ($51.13) price target on Rio Tinto and gave the company a neutral rating in a research note on Wednesday, July 18th. 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 decreased their price target 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. Finally, 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price 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).

The firm also recently disclosed a dividend, which will be paid on Thursday, September 20th. Stockholders of record on Thursday, August 9th will be given a GBX 96.82 ($1.25) dividend. The ex-dividend date of this dividend is Thursday, August 9th. This represents a dividend yield of 2.41%.

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).

Rio Tinto Company Profile

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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