Shares of Rio Tinto plc (LON:RIO) fell 2% on Tuesday after Barclays lowered their price target on the stock from GBX 4,500 to GBX 4,300. Barclays currently has an overweight rating on the stock. Rio Tinto traded as low as GBX 3,457.77 ($46.54) and last traded at GBX 3,468.50 ($46.68). 3,979,280 shares were traded during mid-day trading, an increase of 4% from the average session volume of 3,830,000 shares. The stock had previously closed at GBX 3,540 ($47.64).
Several other analysts have also recently weighed in on RIO. Jefferies Group reissued a “buy” rating and issued a GBX 4,200 ($56.53) price target on shares of Rio Tinto in a research note on Tuesday. Goldman Sachs Group set a GBX 3,000 ($40.38) price objective on shares of Rio Tinto and gave the stock a “neutral” rating in a research report on Tuesday, August 15th. UBS set a GBX 3,750 ($50.47) price objective on shares of Rio Tinto and gave the stock a “buy” rating in a research report on Friday, August 11th. Deutsche Bank reaffirmed a “buy” rating and set a GBX 4,500 ($60.57) price objective on shares of Rio Tinto in a research report on Tuesday. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a GBX 4,100 ($55.18) price objective on shares of Rio Tinto in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Rio Tinto has a consensus rating of “Buy” and an average price target of GBX 3,987.25 ($53.66).
In other news, insider Jean-Sébastien Jacques acquired 10 shares of Rio Tinto stock in a transaction dated Tuesday, October 17th. The shares were acquired at an average cost of GBX 3,721 ($50.08) per share, for a total transaction of £372.10 ($500.81). Also, insider Christopher Lynch acquired 26,066 shares of Rio Tinto stock in a transaction dated Friday, December 1st. The stock was purchased at an average price of GBX 3,490 ($46.97) per share, for a total transaction of £909,703.40 ($1,224,365.28).
Rio Tinto Company Profile
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.
Receive News & Ratings for Rio Tinto plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto plc and related companies with MarketBeat.com's FREE daily email newsletter.