Rio Tinto Price Target Raised to GBX 3,200 at Barclays (RIO)
Investment analysts at Barclays boosted their target price on shares of Rio Tinto (LON:RIO) from GBX 3,000 ($49.20) to GBX 3,200 ($52.48) in a note issued to investors on Friday, ARN reports. The firm currently has an “equal weight” rating on the stock. Barclays’ target price would indicate a potential upside of 1.91% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity raised their price target on shares of Rio Tinto from GBX 4,000 ($65.61) to GBX 4,250 ($69.71) in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Rio Tinto in a research note to investors on Thursday. They now have a GBX 4,125 ($67.66) price target on the stock. Finally, 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. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty-one have given a buy rating to the company’s stock. Rio Tinto presently has an average rating of “Buy” and a consensus price target of GBX 3,776.96 ($61.95).
Rio Tinto (LON:RIO) opened at 3140.00 on Friday. Rio Tinto has a 52 week low of GBX 2579.2219 and a 52 week high of GBX 3872.6101. The stock’s 50-day moving average is GBX 3261.18 and its 200-day moving average is GBX 3100.. The company’s market cap is £58.018 billion.
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
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