Rio Tinto Given “Outperform” Rating at Credit Suisse (RIO)
Rio Tinto (LON:RIO)‘s stock had its “outperform” rating reaffirmed by stock analysts at Credit Suisse in a report issued on Thursday, Analyst Ratings.Net reports. They currently have a GBX 3,900 ($60.98) price target on the stock. Credit Suisse’s price objective would suggest a potential upside of 21.61% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at BNP Paribas reiterated an “outperform” rating on shares of Rio Tinto (LON:RIO) in a research note to investors on Tuesday. They now have a GBX 3,950 ($61.76) price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Rio Tinto (LON:RIO) from GBX 4,200 ($65.67) to GBX 4,300 ($67.23) in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Rio Tinto (LON:RIO) in a research note to investors on Monday. They now have a GBX 3,600 ($56.29) price target on the stock.
Three analysts have rated the stock with a sell rating, two have given a hold rating and twenty-three have issued a buy rating to the stock. Rio Tinto presently has a consensus rating of “Buy” and an average price target of GBX 3,766.94 ($58.90).
Rio Tinto (LON:RIO) traded down 0.64% during mid-day trading on Thursday, hitting GBX 3186.50. 3,799,448 shares of the company’s stock traded hands. The stock’s 50-day moving average is GBX 3048. and its 200-day moving average is GBX 2997.86. The company’s market cap is £58.877 billion.
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
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