Rio Tinto Stock Rating Reaffirmed by Citigroup Inc. (RIO)
Rio Tinto (LON:RIO)‘s stock had its “buy” rating restated by equities research analysts at Citigroup Inc. in a research note issued to investors on Wednesday, Stock Ratings Network reports. They currently have a GBX 3,800 ($61.31) target price on the stock. Citigroup Inc.’s price objective would indicate a potential upside of 26.84% from the stock’s previous close.
Rio Tinto (LON:RIO) traded up 0.05% during mid-day trading on Wednesday, hitting GBX 2997.50. The stock had a trading volume of 1,579,680 shares. Rio Tinto has a 52 week low of GBX 2579.2219 and a 52 week high of GBX 3872.6101. The stock’s 50-day moving average is GBX 3085. and its 200-day moving average is GBX 2987.35. The company’s market cap is £55.385 billion.
A number of other analysts have also recently weighed in on RIO. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rio Tinto (LON:RIO) in a research note to investors on Monday. They now have a GBX 4,300 ($69.38) price target on the stock. Separately, analysts at Bank of America Corp. reiterated a “buy” rating on shares of Rio Tinto (LON:RIO) in a research note to investors on Friday, September 27th. They now have a GBX 3,800 ($61.31) 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 Friday, September 27th. They now have a GBX 3,700 ($59.70) price target on the stock. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-three have assigned a buy rating to the company. Rio Tinto has a consensus rating of “Buy” and an average target price of GBX 3,808.86 ($61.45).
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
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