Rio Tinto PT Raised to GBX 4,500 (RIO)
Research analysts at JPMorgan Chase & Co. boosted their target price on shares of Rio Tinto (LON:RIO) from GBX 4,400 ($72.51) to GBX 4,500 ($74.16) in a report released on Friday, Stock Ratings Network.com reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price objective points to a potential upside of 34.95% from the stock’s previous close.
Shares of Rio Tinto (LON:RIO) traded up 1.45% on Friday, hitting GBX 3383.0002. The stock had a trading volume of 7,277,190 shares. 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 3273. and its 200-day moving average is GBX 3121.. The company’s market cap is £62.508 billion.
RIO has been the subject of a number of other recent research reports. Analysts at Societe Generale reiterated a “buy” rating on shares of Rio Tinto in a research note to investors on Thursday. They now have a GBX 4,210 ($69.38) price target on the stock. Separately, 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. Finally, 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. Three investment 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 stock currently has a consensus rating of “Buy” and a consensus target price of GBX 3,809.04 ($62.77).
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
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