Rio Tinto Rating Reiterated by Societe Generale (RIO)
Rio Tinto (LON:RIO)‘s stock had its “buy” rating restated by stock analysts at Societe Generale in a report issued on Thursday, ARN reports. They currently have a GBX 4,210 ($69.38) price objective on the stock. Societe Generale’s price objective suggests a potential upside of 29.38% from the stock’s previous close.
Rio Tinto (LON:RIO) traded up 2.47% during mid-day trading on Thursday, hitting GBX 3334.50. 8,730,490 shares of the company’s stock traded hands. 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.
A number of other analysts have also recently weighed in on RIO. Analysts at Investec raised their price target on shares of Rio Tinto from GBX 3,668 ($60.45) to GBX 3,684 ($60.71) in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-one have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target 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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