Rio Tinto’s (RIO) Underperform Rating Reaffirmed at Royal Bank of Canada

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Royal Bank of Canada reissued their underperform rating on shares of Rio Tinto (LON:RIO) in a research note released on Friday, MarketBeat Ratings reports. Royal Bank of Canada currently has a GBX 3,200 ($41.81) price target on the stock.

Other analysts have also issued research reports about the stock. Morgan Stanley lifted their price objective on shares of Rio Tinto from GBX 3,430 ($44.82) to GBX 4,100 ($53.57) and gave the stock an equal weight rating in a research report on Friday, June 29th. Credit Suisse Group reaffirmed an outperform rating on shares of Rio Tinto in a research report on Tuesday, September 11th. Goldman Sachs Group set a GBX 4,000 ($52.27) price objective on shares of Rio Tinto and gave the stock a neutral rating in a research report on Friday, October 5th. Citigroup reaffirmed a buy rating on shares of Rio Tinto in a research report on Tuesday, June 19th. Finally, UBS Group reaffirmed a buy rating on shares of Rio Tinto in a research report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of GBX 4,212.78 ($55.05).

Shares of RIO traded up GBX 45.50 ($0.59) during trading hours on Friday, reaching GBX 3,674.50 ($48.01). 4,657,856 shares of the stock traded hands, compared to its average volume of 4,860,000. Rio Tinto has a 52 week low of GBX 2,882.50 ($37.66) and a 52 week high of GBX 4,226.56 ($55.23).

The company also recently disclosed a dividend, which was paid on Thursday, September 20th. Investors of record on Thursday, August 9th were paid a dividend of GBX 96.82 ($1.27) per share. The ex-dividend date of this dividend was Thursday, August 9th. This represents a yield of 2.41%.

In related news, insider Jean-Sébastien Jacques sold 7 shares of the business’s stock in a transaction that occurred on Thursday, July 19th. The shares were sold at an average price of GBX 4,078 ($53.29), for a total transaction of £285.46 ($373.00).

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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