Rio Tinto plc Receives Buy Rating from Deutsche Bank (RIO)
Rio Tinto plc (LON:RIO)‘s stock had its “buy” rating reiterated by equities research analysts at Deutsche Bank in a research note issued to investors on Wednesday. They currently have a GBX 4,580 ($77.94) price objective on the stock. Deutsche Bank’s price objective would suggest a potential upside of 47.86% from the stock’s previous close.
Rio Tinto plc (LON:RIO) traded up 0.05% on Wednesday, hitting GBX 3097.50. The stock had a trading volume of 3,687,875 shares. Rio Tinto plc has a one year low of GBX 2587.00 and a one year high of GBX 3641.9998. The stock’s 50-day moving average is GBX 3174.11 and its 200-day moving average is GBX 3269.42. The company’s market cap is £57.261 billion.
A number of other analysts have also recently weighed in on RIO. Analysts at BMO Capital Markets reiterated an “outperform” rating on shares of Rio Tinto plc in a research note on Tuesday. They now have a GBX 3,500 ($59.56) price target on the stock. Separately, analysts at Credit Suisse cut their price target on shares of Rio Tinto plc from GBX 4,200 ($71.48) to GBX 4,000 ($68.07) in a research note on Monday. They now have an “outperform” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Rio Tinto plc from GBX 4,100 ($69.78) to GBX 3,900 ($66.37) in a research note on Friday, June 20th. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Rio Tinto plc currently has an average rating of “Buy” and a consensus price target of GBX 3,702.32 ($63.01).
Rio Tinto plc (LON:RIO) is an international mining company.
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