Rio Tinto Rating Reiterated by Sanford C. Bernstein (RIO)
Rio Tinto (LON:RIO)‘s stock had its “outperform” rating reiterated by research analysts at Sanford C. Bernstein in a report released on Thursday, Stock Ratings Network reports. They currently have a GBX 4,125 ($67.66) price target on the stock. Sanford C. Bernstein’s target price would suggest a potential upside of 32.42% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Rio Tinto in a research note to investors on Wednesday. They now have a GBX 4,000 ($65.61) price target on the stock. Separately, analysts at JPMorgan Chase & Co. cut their price target on shares of Rio Tinto from GBX 4,500 ($73.81) to GBX 4,400 ($72.17) in a research note to investors on Wednesday. They now have an “overweight” rating on the stock. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of Rio Tinto in a research note to investors on Wednesday, December 18th. They now have a GBX 3,800 ($62.33) price target on the stock. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-two have issued a buy rating to the stock. Rio Tinto currently has a consensus rating of “Buy” and a consensus target price of GBX 3,808.96 ($62.47).
Shares of Rio Tinto (LON:RIO) traded down 2.35% on Thursday, hitting GBX 3115.00. 4,939,618 shares of the company’s stock traded hands. Rio Tinto has a 1-year low of GBX 2579.2219 and a 1-year high of GBX 3872.6101. The stock’s 50-day moving average is GBX 3271.61 and its 200-day moving average is GBX 3099.. The company’s market cap is £57.556 billion.
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
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