Rio Tinto plc Stock Rating Reaffirmed by Goldman Sachs (RIO)
Rio Tinto plc (LON:RIO)‘s stock had its “sell/neutral” rating reaffirmed by equities research analysts at Goldman Sachs in a research note issued to investors on Wednesday. They currently have a GBX 2,550 ($42.89) target price on the stock. Goldman Sachs’ price objective would indicate a potential downside of 20.39% from the stock’s previous close.
A number of other firms have also recently commented on RIO. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rio Tinto plc in a research note on Monday, May 12th. They now have a GBX 4,500 ($75.69) price target on the stock. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Rio Tinto plc in a research note on Tuesday, May 6th. They now have a GBX 3,800 ($63.92) price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Rio Tinto plc from GBX 4,640 ($78.05) to GBX 4,690 ($78.89) in a research note on Tuesday, May 6th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of GBX 3,718.24 ($62.54).
Shares of Rio Tinto plc (LON:RIO) opened at 3179.00 on Wednesday. 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 3294. and its 200-day moving average is GBX 3290.17. The company’s market cap is £58.768 billion.
Rio Tinto plc (LON:RIO) is an international mining company.