Brokerages Set Rio Tinto plc (RIO) Price Target at $3,395.24

Rio Tinto plc (LON:RIO) has received a consensus rating of “Buy” from the twenty-three research firms that are currently covering the firm. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is GBX 3,489.25 ($43.60).

RIO has been the topic of a number of analyst reports. Deutsche Bank AG restated a “buy” rating and set a GBX 3,245 ($40.55) target price on shares of Rio Tinto plc in a research report on Wednesday, October 26th. J P Morgan Chase & Co set a GBX 3,200 ($39.99) target price on shares of Rio Tinto plc and gave the stock a “buy” rating in a research report on Tuesday, November 1st. Jefferies Group LLC restated a “buy” rating and set a GBX 3,100 ($38.74) target price on shares of Rio Tinto plc in a research report on Monday, October 31st. Canaccord Genuity restated a “buy” rating and set a GBX 3,130 ($39.12) target price on shares of Rio Tinto plc in a research report on Thursday, October 20th. Finally, HSBC Holdings plc initiated coverage on shares of Rio Tinto plc in a research report on Thursday, November 10th. They set a “buy” rating and a GBX 3,300 ($41.24) target price on the stock.

Shares of Rio Tinto plc (LON:RIO) opened at 3640.00 on Friday. The stock’s 50 day moving average price is GBX 3,340.36 and its 200-day moving average price is GBX 2,851.26. Rio Tinto plc has a 52-week low of GBX 1,701.50 and a 52-week high of GBX 3,685.00. The stock’s market cap is GBX 65.48 billion.

The business also recently declared a dividend, which will be paid on Thursday, April 6th. Shareholders of record on Thursday, February 23rd will be given a dividend of GBX 100.56 ($1.26) per share. This represents a dividend yield of 2.98%. This is an increase from Rio Tinto plc’s previous dividend of $33.80. The ex-dividend date is Thursday, February 23rd.

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In related news, insider Jean-Sébastien Jacques purchased 11 shares of the company’s stock in a transaction on Tuesday, January 17th. The shares were bought at an average cost of GBX 3,451 ($43.13) per share, for a total transaction of £379.61 ($474.39).

About Rio Tinto plc

Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth’s mineral resources. The Company’s segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.

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