The BNP Paribas Reaffirms “Neutral” Rating for Rio Tinto plc (RIO)

The BNP Paribas Reaffirms “Neutral” Rating for Rio Tinto plc (RIO)

Rio Tinto plc (LON:RIO)‘s stock had its “neutral” rating restated by equities research analysts at BNP Paribas in a research note issued on Monday. They presently have a GBX 3,400 ($41.02) price objective on the stock. BNP Paribas’ price objective would suggest a potential downside of 1.45% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Jefferies Group increased their price objective on shares of Rio Tinto plc from GBX 2,800 ($33.78) to GBX 3,100 ($37.40) and gave the company a “buy” rating in a research report on Friday, October 14th. Deutsche Bank AG increased their price objective on shares of Rio Tinto plc from GBX 3,230 ($38.97) to GBX 3,245 ($39.15) and gave the company a “buy” rating in a research report on Wednesday, October 5th. Canaccord Genuity restated a “buy” rating and set a GBX 3,130 ($37.76) price objective on shares of Rio Tinto plc in a research report on Thursday, October 20th. JPMorgan Chase & Co. set a GBX 3,200 ($38.61) price objective on shares of Rio Tinto plc and gave the company a “buy” rating in a research report on Tuesday, November 1st. Finally, HSBC Holdings plc started 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 ($39.81) price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company’s stock. Rio Tinto plc presently has an average rating of “Buy” and a consensus price target of GBX 3,285.13 ($39.63).

Rio Tinto plc (LON:RIO) opened at 3425.00 on Monday. The firm has a 50-day moving average of GBX 3,192.58 and a 200 day moving average of GBX 2,738.54. Rio Tinto plc has a one year low of GBX 1,570.50 and a one year high of GBX 3,514.04. The company’s market capitalization is GBX 61.61 billion.

In other news, insider Jean-Sébastien Jacques bought 11 shares of the stock in a transaction dated Tuesday, January 17th. The stock was purchased at an average price of GBX 3,451 ($41.63) per share, for a total transaction of £379.61 ($457.97).

Rio Tinto plc Company Profile

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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