Rio Tinto Stock Rating Reaffirmed by Sanford C. Bernstein (RIO)
Rio Tinto (LON:RIO)‘s stock had its “outperform” rating restated by equities researchers at Sanford C. Bernstein in a research report issued on Tuesday, AmericanBankingNews.com reports. They currently have a GBX 4,125 ($67.71) target price on the stock. Sanford C. Bernstein’s target price would suggest a potential upside of 27.65% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Macquarie reiterated an “outperform” rating on shares of Rio Tinto in a research note to investors on Friday. They now have a GBX 4,200 ($68.94) price target on the stock. Separately, analysts at UBS AG raised their price target on shares of Rio Tinto from GBX 4,040 ($66.32) to GBX 4,050 ($66.48) in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Beaufort Securities reiterated a “buy” rating on shares of Rio Tinto in a research note to investors on Friday. 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’s stock. The company presently has an average rating of “Buy” and an average price target of GBX 3,809.04 ($62.53).
Rio Tinto (LON:RIO) traded down 3.13% on Tuesday, hitting GBX 3231.4998. 6,001,963 shares of the company’s stock traded hands. 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 3274.91 and its 200-day moving average is GBX 3135.59. The company’s market cap is £59.708 billion.
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
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