Rio Tinto Limited Given Buy Rating at Deutsche Bank (RIO)
Rio Tinto Limited (ASX:RIO)‘s stock had its “buy” rating restated by equities researchers at Deutsche Bank in a research report issued on Friday. They currently have a $85.60 price objective on the stock. The analysts noted that the move was a valuation call.
A number of other analysts have also recently weighed in on RIO. Analysts at RBC Capital reiterated an “outperform” rating on shares of Rio Tinto Limited in a research note on Tuesday, May 13th. Five analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of A$85.60 ($80.75).
Shares of Rio Tinto Limited (ASX:RIO) traded up 1.27% on Friday, hitting A$64.750. 2,992,496 shares of the company’s stock traded hands. Rio Tinto Limited has a one year low of A$55.400 and a one year high of A$71.300. The stock’s 50-day moving average is A$60.40 and its 200-day moving average is A$63.25. The company has a market cap of A$119.7 billion and a price-to-earnings ratio of 32.41.
Rio Tinto Limited is an international business company engaged in metal and mineral production. The product groups of the Company include aluminum, copper and diamonds, energy and minerals, and iron ore.