Rio Tinto plc Price Target Cut to GBX 3,840 (RIO)
Analysts at HSBC lowered their price target on shares of Rio Tinto plc (LON:RIO) from GBX 4,060 ($68.21) to GBX 3,840 ($64.52) in a research report issued to clients and investors on Tuesday, Analyst Ratings News reports. The firm currently has an “overweight” rating on the stock. HSBC’s target price suggests a potential upside of 19.25% from the stock’s previous close.
Rio Tinto plc (LON:RIO) traded up 1.08% during mid-day trading on Tuesday, hitting GBX 3220.00. The stock had a trading volume of 4,089,151 shares. Rio Tinto plc has a 52 week low of GBX 2579.2219 and a 52 week high of GBX 3641.9998. The stock’s 50-day moving average is GBX 3270. and its 200-day moving average is GBX 3283.38. The company’s market cap is £59.526 billion.
A number of other firms have also recently commented on RIO. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Rio Tinto plc in a research note on Monday. They now have a GBX 4,640 ($77.96) price target on the stock. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Rio Tinto plc in a research note on Wednesday, April 23rd. They now have a GBX 4,200 ($70.56) price target on the stock. Finally, analysts at Nomura reiterated a “buy” rating on shares of Rio Tinto plc in a research note on Thursday, April 17th. They now have a GBX 3,700 ($62.16) price target on the stock. Four analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of GBX 3,723.31 ($62.56).
Rio Tinto plc (LON:RIO) is an international mining company.
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