Rio Tinto plc Stock Rating Lowered by Investec (RIO)
Rio Tinto plc (LON:RIO) was downgraded by investment analysts at Investec to a “hold” rating in a note issued to investors on Monday. They currently have a GBX 3,128 ($53.10) price objective on the stock, down from their previous price objective of GBX 3,624 ($61.52). Investec’s target price suggests a potential upside of 3.66% from the stock’s previous close.
Rio Tinto plc (LON:RIO) traded up 0.41% on Monday, hitting GBX 3030.00. 2,202,603 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 3641.9998. The stock’s 50-day moving average is GBX 3207.87 and its 200-day moving average is GBX 3276.. The company’s market cap is £56.013 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at BNP Paribas cut their price target on shares of Rio Tinto plc from GBX 4,070 ($69.09) to GBX 3,800 ($64.51) in a research note on Monday. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank cut their price target on shares of Rio Tinto plc from GBX 4,690 ($79.61) to GBX 4,580 ($77.75) in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Rio Tinto plc in a research note on Monday, June 9th. They now have a GBX 4,200 ($71.30) price target on the stock. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Rio Tinto plc currently has a consensus rating of “Buy” and a consensus price target of GBX 3,652.78 ($62.01).
Rio Tinto plc (LON:RIO) is an international mining company.
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