Rio Tinto Receives Overweight Rating from JPMorgan Chase & Co. (RIO)
Rio Tinto (LON:RIO)‘s stock had its “overweight” rating reaffirmed by stock analysts at JPMorgan Chase & Co. in a report issued on Thursday, Stock Ratings News reports. They currently have a GBX 4,500 ($73.95) target price on the stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 34.79% from the stock’s previous close.
Shares of Rio Tinto (LON:RIO) traded up 1.99% during mid-day trading on Thursday, hitting GBX 3338.4998. The stock had a trading volume of 4,032,798 shares. Rio Tinto has a 52-week low of GBX 2579.2219 and a 52-week high of GBX 3872.6101. The stock has a 50-day moving average of GBX 3270.07 and a 200-day moving average of GBX 3167.. The company’s market cap is £61.685 billion.
A number of other firms have also recently commented on RIO. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Rio Tinto in a research note to investors on Monday. They now have a GBX 4,000 ($65.74) price target on the stock. Separately, analysts at Liberum Capital reiterated a “buy” rating on shares of Rio Tinto in a research note to investors on Friday, January 31st. They now have a GBX 3,450 ($56.70) price target on the stock. Finally, analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Rio Tinto in a research note to investors on Wednesday, January 29th. They now have a GBX 4,125 ($67.79) price target on the stock. Three research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-one have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of GBX 3,807.15 ($62.57).
Rio Tinto plc (LON:RIO) is an international mining company.
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