AlphaValue Reiterates Reduce Rating for Rio Tinto (RIO)
Rio Tinto (LON:RIO)‘s stock had its “reduce” rating restated by research analysts at AlphaValue in a report released on Thursday, ARN reports. They currently have a GBX 2,896 ($46.72) target price on the stock. AlphaValue’s target price suggests a potential downside of 4.36% from the stock’s previous close.
Rio Tinto (LON:RIO) traded down 0.96% during mid-day trading on Thursday, hitting GBX 2999.00. The stock had a trading volume of 1,713,956 shares. Rio Tinto has a 52 week low of GBX 2579.2219 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 £55.412 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Rio Tinto (LON:RIO) in a research note to investors on Wednesday. They now have a GBX 3,800 ($61.31) price target on the stock. Separately, 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. Finally, 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. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of GBX 3,806.68 ($61.42).
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
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