Rio Tinto PT Lowered to GBX 3,850 (RIO)
Equities researchers at HSBC lowered their price objective on shares of Rio Tinto (LON:RIO) from GBX 4,070 ($64.97) to GBX 3,850 ($61.46) in a research report issued on Thursday, Stock Ratings Network.com reports. The firm currently has an “overweight” rating on the stock. HSBC’s target price suggests a potential upside of 20.63% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Beaufort Securities reiterated a “buy” rating on shares of Rio Tinto in a research note to investors on Wednesday. Separately, analysts at UBS AG reiterated a “buy” rating on shares of Rio Tinto in a research note to investors on Wednesday. They now have a GBX 3,650 ($58.27) price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Rio Tinto in a research note to investors on Wednesday. They now have a GBX 4,570 ($72.96) price target on the stock. Three research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-four have assigned a buy rating to the stock. Rio Tinto presently has an average rating of “Buy” and a consensus price target of GBX 3,809.64 ($60.82).
Rio Tinto (LON:RIO) traded down 0.73% during mid-day trading on Thursday, hitting GBX 3191.50. 2,291,689 shares of the company’s stock traded hands. 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 £58.969 billion.
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.