Rio Tinto plc Price Target Cut to GBX 4,580 (RIO)
Investment analysts at Deutsche Bank lowered their price target on shares of Rio Tinto plc (LON:RIO) from GBX 4,690 ($78.85) to GBX 4,580 ($77.00) in a note issued to investors on Friday. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price objective suggests a potential upside of 51.78% from the company’s current price.
RIO has been the subject of a number of other recent research reports. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Rio Tinto plc in a research note on Monday. They now have a GBX 4,200 ($70.61) price target on the stock. Separately, analysts at RBC Capital cut their price target on shares of Rio Tinto plc from GBX 3,800 ($63.89) to GBX 3,700 ($62.21) in a research note on Thursday, June 5th. They now have an “outperform” rating on the stock. Finally, analysts at Galvan Research reiterated a “buy” rating on shares of Rio Tinto plc in a research note on Wednesday, June 4th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of GBX 3,687 ($61.99).
Rio Tinto plc (LON:RIO) traded down 1.32% on Friday, hitting GBX 3017.50. The stock had a trading volume of 4,202,632 shares. Rio Tinto plc has a 52 week low of GBX 2579.2219 and a 52 week high of GBX 3641.9998. The stock has a 50-day moving average of GBX 3207.87 and a 200-day moving average of GBX 3276.. The company’s market cap is £55.782 billion.
Rio Tinto plc (LON:RIO) is an international mining company.
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