Rio Tinto Stock Rating Reaffirmed by Deutsche Bank (RIO)
Rio Tinto (LON:RIO)‘s stock had its “buy” rating reiterated by Deutsche Bank in a research note issued on Monday, American Banking and Market News reports. They currently have a GBX 4,641 ($76.47) target price on the stock. Deutsche Bank’s price objective suggests a potential upside of 47.80% from the stock’s previous close.
A number of other firms have also recently commented on RIO. Analysts at Investec reiterated a “buy” rating on shares of Rio Tinto in a research note to investors on Friday. They now have a GBX 3,684 ($60.70) price target on the stock. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Rio Tinto in a research note to investors on Friday. They now have a GBX 4,000 ($65.91) price target on the stock. Finally, analysts at HSBC raised their price target on shares of Rio Tinto from GBX 3,850 ($63.44) to GBX 4,060 ($66.90) in a research note to investors on Wednesday, January 22nd. They now have an “overweight” rating on the stock. Three 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. Rio Tinto has an average rating of “Buy” and an average price target of GBX 3,817.44 ($62.90).
Shares of Rio Tinto (LON:RIO) traded down 0.10% on Monday, hitting GBX 3140.00. 5,109,887 shares of the company’s stock traded hands. 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 3268.08 and its 200-day moving average is GBX 3149.. The company’s market cap is £58.018 billion.
Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.
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