Citigroup Inc. Increases Rio Tinto Price Target to GBX 3,800 (RIO)
Analysts at Citigroup Inc. raised their target price on shares of Rio Tinto (LON:RIO) from GBX 3,700 ($59.27) to GBX 3,800 ($60.87) in a research report issued to clients and investors on Monday, StockRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Citigroup Inc.’s price objective indicates a potential upside of 22.58% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Galvan Research reiterated a “buy” rating on shares of Rio Tinto (LON:RIO) in a research note to investors on Thursday. They now have a GBX 3,400 ($54.46) price target on the stock. Separately, analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Rio Tinto (LON:RIO) in a research note to investors on Thursday. They now have a GBX 4,125 ($66.07) price target on the stock. Finally, analysts at Nomura reiterated a “buy” rating on shares of Rio Tinto (LON:RIO) in a research note to investors on Thursday. They now have a GBX 3,700 ($59.27) price target on the stock.
Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of GBX 3,785.01 ($60.63).
Shares of Rio Tinto (LON:RIO) traded down 0.08% on Monday, hitting GBX 3100.00. The stock had a trading volume of 1,763,209 shares. Rio Tinto has a 52-week low of GBX 2579.22 and a 52-week high of GBX 3872.6101. The stock has a 50-day moving average of GBX 3085. and a 200-day moving average of GBX 2987.35. The company’s market cap is £57.279 billion.
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
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