Deutsche Bank Reiterates Buy Rating for Rio Tinto plc (RIO)
Rio Tinto plc (LON:RIO)‘s stock had its “buy” rating reaffirmed by stock analysts at Deutsche Bank in a report issued on Wednesday. They currently have a GBX 4,690 ($78.94) price target on the stock. Deutsche Bank’s price target points to a potential upside of 44.94% from the stock’s previous close.
Rio Tinto plc (LON:RIO) traded down 1.64% during mid-day trading on Wednesday, hitting GBX 3183.00. The stock had a trading volume of 2,719,943 shares. Rio Tinto plc has a one year low of GBX 2579.2219 and a one year high of GBX 3641.9998. The stock’s 50-day moving average is GBX 3278.34 and its 200-day moving average is GBX 3288.41. The company’s market cap is £58.842 billion.
RIO has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rio Tinto plc in a research note on Wednesday. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Rio Tinto plc in a research note on Thursday, May 22nd. They now have a GBX 3,800 ($63.96) price target on the stock. Finally, analysts at Goldman Sachs reiterated a “sell/neutral” rating on shares of Rio Tinto plc in a research note on Wednesday, May 21st. They now have a GBX 2,550 ($42.92) price target on the stock. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Rio Tinto plc presently has a consensus rating of “Buy” and a consensus price target of GBX 3,685.67 ($62.04).
Rio Tinto plc (LON:RIO) is an international mining company.
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