Rio Tinto (RIO) Downgraded by Societe Generale to “Hold”

Rio Tinto (LON:RIO) was downgraded by Societe Generale from a “buy” rating to a “hold” rating in a research report issued on Thursday. They currently have a GBX 3,830 ($50.05) price target on the stock, down from their previous price target of GBX 4,050 ($52.92). Societe Generale’s target price suggests a potential upside of 4.52% from the company’s previous close.

RIO has been the subject of several other reports. Morgan Stanley lifted their price target on Rio Tinto from GBX 3,430 ($44.82) to GBX 4,100 ($53.57) and gave the company an “equal weight” rating in a research report on Friday, June 29th. Credit Suisse Group reiterated an “outperform” rating on shares of Rio Tinto in a research report on Tuesday, September 11th. JPMorgan Chase & Co. set a GBX 4,850 ($63.37) price target on Rio Tinto and gave the company a “buy” rating in a research report on Thursday, September 20th. Goldman Sachs Group set a GBX 4,000 ($52.27) price target on Rio Tinto and gave the company a “neutral” rating in a research report on Friday, October 5th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a GBX 3,200 ($41.81) price target on shares of Rio Tinto in a research report on Tuesday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of GBX 4,192.35 ($54.78).

Shares of LON RIO opened at GBX 3,664.50 ($47.88) on Thursday. Rio Tinto has a fifty-two week low of GBX 2,882.50 ($37.66) and a fifty-two week high of GBX 4,226.56 ($55.23).

In related news, insider Jean-Sébastien Jacques sold 7 shares of the business’s stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of GBX 3,632 ($47.46), for a total transaction of £254.24 ($332.21).

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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