Rio Tinto Receives Buy Rating from Nomura (RIO)
Rio Tinto (LON:RIO)‘s stock had its “buy” rating reiterated by investment analysts at Nomura in a note issued to investors on Wednesday, Stock Ratings Network reports. They currently have a GBX 3,700 ($59.86) price target on the stock. Nomura’s price target points to a potential upside of 16.21% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG reiterated a “buy” rating on shares of Rio Tinto in a research note to investors on Monday, October 28th. They now have a GBX 3,620 ($58.57) price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Rio Tinto in a research note to investors on Thursday, October 24th. They now have a GBX 4,570 ($73.94) price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Rio Tinto from GBX 3,600 ($58.24) to GBX 4,000 ($64.71) in a research note to investors on Thursday, October 24th. They now have a “buy” rating on the stock. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-four have issued a buy rating to the company’s stock. Rio Tinto presently has a consensus rating of “Buy” and an average price target of GBX 3,821.99 ($61.83).
Shares of Rio Tinto (LON:RIO) opened at 3184.00 on Wednesday. Rio Tinto has a 52-week low of GBX 2579.22 and a 52-week high of GBX 3872.6101. The stock’s 50-day moving average is GBX 3125.14 and its 200-day moving average is GBX 2973.15. The company’s market cap is £58.831 billion.
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
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