JPMorgan Chase & Co. set a GBX 5,190 ($67.82) target price on Rio Tinto (LON:RIO) in a research note released on Tuesday. The brokerage currently has a buy rating on the stock.
Several other research firms have also recently weighed in on RIO. Goldman Sachs Group upgraded shares of Rio Tinto to a buy rating and raised their price objective for the company from GBX 4,100 ($53.57) to GBX 5,000 ($65.33) in a research report on Tuesday, February 12th. UBS Group restated a buy rating on shares of Rio Tinto in a research report on Friday, January 11th. Royal Bank of Canada set a GBX 3,100 ($40.51) price objective on shares of Rio Tinto and gave the company a sell rating in a research report on Friday, January 25th. Deutsche Bank raised their price objective on shares of Rio Tinto from GBX 4,100 ($53.57) to GBX 4,250 ($55.53) and gave the company a hold rating in a research report on Thursday, January 31st. Finally, Liberum Capital restated a hold rating on shares of Rio Tinto in a research report on Wednesday, November 7th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of GBX 4,245.15 ($55.47).
Get Rio Tinto alerts:Shares of RIO stock opened at GBX 4,086 ($53.39) on Tuesday. Rio Tinto has a 12-month low of GBX 2,882.50 ($37.66) and a 12-month high of GBX 4,226.56 ($55.23).
The firm also recently declared a dividend, which will be paid on Thursday, April 18th. Stockholders of record on Thursday, March 7th will be given a dividend of GBX 319.51 ($4.17) per share. This is a boost from Rio Tinto’s previous dividend of $96.82. The ex-dividend date is Thursday, March 7th. This represents a dividend yield of 7.28%.
In other news, insider Jean-Sébastien Jacques sold 13,090 shares of Rio Tinto stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of GBX 4,327 ($56.54), for a total transaction of £566,404.30 ($740,107.54).
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, iron ore, thermal and metallurgical coal, and uranium, as well as industrial minerals, such as borates, titanium dioxide, and salt.
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