A number of other research analysts also recently issued reports on the company. The brokerage now has a "buy" rating on the stock.
The second quarter of 2017 also saw Rio Tinto confirm Yancoal as the preferred buyer of its subsidiary Coal & Allied for $2.69 billion, with the sale expected to be complete in the third quarter of 2017. Rio Tinto PLC has GBX 4525 highest and GBX 3 lowest target.
ILLEGAL ACTIVITY WARNING: "J P Morgan Chase & Co Reiterates "GBX 3,950" Price Target for Rio Tinto plc (LON:RIO)" was first reported by Community Financial News and is the sole property of of Community Financial News. Barclays Capital maintained Rio Tinto plc (LON:RIO) on Wednesday, October 26 with "Overweight" rating. Finally, Macquarie restated an "outperform" rating and set a GBX 4,000 ($51.81) price target on shares of Rio Tinto plc in a report on Thursday, July 6th.
In related news, insider Gregor Alexander sold 15,418 shares of the firm's stock in a transaction dated Monday, June 26th. ValuEngine upgraded shares of Rio Tinto PLC from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 11th.
Rio Tinto lowered its forecast for shipments of iron ore in calendar 2017 by up to 10 million tonnes on Tuesday citing bad weather and ongoing work to modernize its rail lines. The firm has a 50-day moving average of GBX 3,131.23 and a 200-day moving average of GBX 3,240.47. The latest reports which are outstanding on Tuesday 18th of July state 4 analysts have a rating of "strong buy", 2 analysts "buy", 1 analysts "neutral", 0 analysts "sell" and 0 analysts "strong sell". If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & worldwide copyright law. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and global copyright laws. Rio Tinto plc presently has an average rating of "Buy" and an average target price of GBX 3,668.24 ($47.90). Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. The correct version of this report can be viewed at https://stocknewstimes.com/2017/07/18/rio-tinto-plcs-rio-neutral-rating-reaffirmed-at-goldman-sachs-group-inc-the.html. The stock was acquired at an average cost of GBX 3,043 ($39.74) per share, for a total transaction of £365.16 ($476.83).
Rio Tinto (NYSE:RIO) -1.8% premarket after cutting its forecast for 2017 shipments of iron ore by as much as 10M metric tons, after poor weather and an acceleration of its rail maintenance program hurt Q2 shipments. The Company's business is finding, mining and processing mineral resources. Around half of that was spent on central exploration with 29% spent on copper and diamonds, 11% on energy and minerals and the remainder spent on iron ore and aluminium.
The company now expects full-year iron ore shipments to come in at the bottom of its previous guidance of between 330mt and 340mt.