Investec Increases Rio Tinto Price Target to GBX 3,684 (RIO)
Stock analysts at Investec boosted their price objective on shares of Rio Tinto (LON:RIO) from GBX 3,668 ($60.45) to GBX 3,684 ($60.71) in a report issued on Thursday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Investec’s price objective indicates a potential upside of 10.48% from the stock’s previous close.
Rio Tinto (LON:RIO) traded up 2.47% on Thursday, hitting GBX 3334.50. The stock had a trading volume of 8,731,490 shares. Rio Tinto has a one year low of GBX 2579.2219 and a one year high of GBX 3872.6101. The stock has a 50-day moving average of GBX 3267.11 and a 200-day moving average of GBX 3119.. The company’s market cap is £61.612 billion.
RIO has been the subject of a number of other recent research reports. Analysts at Deutsche Bank cut their price target on shares of Rio Tinto from GBX 4,685 ($77.21) to GBX 4,641 ($76.48) in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “conviction sell” rating on shares of Rio Tinto in a research note to investors on Tuesday. They now have a GBX 2,350 ($38.73) price target on the stock. Finally, analysts at BNP Paribas reiterated an “outperform” rating on shares of Rio Tinto in a research note to investors on Monday. They now have a GBX 4,070 ($67.07) price target on the stock. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of GBX 3,787.84 ($62.42).
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
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