Rio Tinto’s Conviction Sell Rating Reaffirmed at Goldman Sachs (RIO)
Rio Tinto (LON:RIO)‘s stock had its “conviction sell” rating reaffirmed by equities research analysts at Goldman Sachs in a research note issued to investors on Wednesday, Analyst RN reports. They currently have a GBX 2,450 ($40.20) target price on the stock. Goldman Sachs’ price objective suggests a potential downside of 30.14% from the company’s current price.
Rio Tinto (LON:RIO) traded up 1.42% on Wednesday, hitting GBX 3509.00. 5,265,970 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 3282. and its 200-day moving average is GBX 3180.12. The company’s market cap is £64.836 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Rio Tinto in a research note on Tuesday. They now have a GBX 4,000 ($65.63) price target on the stock. Separately, analysts at UBS AG reiterated a “buy” rating on shares of Rio Tinto in a research note on Tuesday. They now have a GBX 4,050 ($66.45) price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Rio Tinto in a research note on Monday. They now have a GBX 4,641 ($76.14) price target 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 stock. Rio Tinto presently has a consensus rating of “Buy” and an average price target of GBX 3,818.69 ($62.65).
Rio Tinto plc (LON:RIO) is an international mining company.
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