Rio Tinto Stock Rating Reaffirmed by Macquarie (RIO)
Rio Tinto (LON:RIO)‘s stock had its “outperform” rating reaffirmed by stock analysts at Macquarie in a report issued on Friday, Analyst Ratings Net reports. They currently have a GBX 4,200 ($69.22) price target on the stock. Macquarie’s target price points to a potential upside of 25.96% from the stock’s previous close.
A number of other analysts have also recently weighed in on RIO. Analysts at UBS AG raised their price target on shares of Rio Tinto from GBX 4,040 ($66.58) to GBX 4,050 ($66.74) in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Beaufort Securities reiterated a “buy” rating on shares of Rio Tinto in a research note to investors on Friday. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Rio Tinto from GBX 4,400 ($72.51) to GBX 4,500 ($74.16) in a research note to investors on Friday. They now have an “overweight” rating on the stock. Three analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-one have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of GBX 3,809.04 ($62.77).
Shares of Rio Tinto (LON:RIO) traded up 1.45% on Friday, hitting GBX 3383.0002. 7,277,190 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 3273. and a 200-day moving average of GBX 3121.. The company’s market cap is £62.508 billion.
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
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