Rio Tinto Given “Buy” Rating at Deutsche Bank (RIO)
Rio Tinto (LON:RIO)‘s stock had its “buy” rating reaffirmed by equities researchers at Deutsche Bank in a research report issued on Tuesday, Analyst RN reports. They currently have a GBX 4,570 ($73.32) price target on the stock. Deutsche Bank’s price objective would suggest a potential upside of 52.33% from the stock’s previous close.
Shares of Rio Tinto (LON:RIO) opened at 2953.50 on Tuesday. 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 £54.572 billion.
Several other analysts have also recently commented on the stock. Analysts at AlphaValue reiterated a “reduce” rating on shares of Rio Tinto in a research note to investors on Thursday, October 3rd. They now have a GBX 2,896 ($46.46) price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Rio Tinto in a research note to investors on Wednesday, October 2nd. They now have a GBX 3,800 ($60.97) price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rio Tinto in a research note to investors on Monday, September 30th. They now have a GBX 4,300 ($68.99) price target on the stock. Three investment 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’s stock. The stock presently has a consensus rating of “Buy” and an average price target of GBX 3,806.68 ($61.07).
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
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