Rio Tinto plc PT Raised to GBX 4,600 at JPMorgan Chase & Co. (RIO)
Research analysts at JPMorgan Chase & Co. raised their price objective on shares of Rio Tinto plc (LON:RIO) from GBX 4,500 ($73.83) to GBX 4,600 ($75.47) in a report released on Friday, American Banking News reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 30.83% from the company’s current price.
A number of other analysts have also recently weighed in on RIO. Analysts at Beaufort Securities reiterated a “buy” rating on shares of Rio Tinto plc in a research note on Friday. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Rio Tinto plc in a research note on Thursday. Finally, analysts at Investec reiterated a “buy” rating on shares of Rio Tinto plc in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of GBX 3,791.75 ($62.21).
Shares of Rio Tinto plc (LON:RIO) traded up 0.53% on Friday, hitting GBX 3516.00. 5,640,384 shares of the company’s stock traded hands. Rio Tinto plc 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 3297. and a 200-day moving average of GBX 3188.. The company’s market cap is £64.965 billion.
Rio Tinto plc (LON:RIO) is an international mining company.
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