Rio Tinto plc Stock Rating Reaffirmed by Goldman Sachs (RIO)
Rio Tinto plc (LON:RIO)‘s stock had its “strong-buy” rating reiterated by investment analysts at Goldman Sachs in a note issued to investors on Wednesday. They currently have a GBX 2,530 ($43.31) price target on the stock. Goldman Sachs’ target price would suggest a potential downside of 24.13% from the stock’s previous close.
Shares of Rio Tinto plc (LON:RIO) traded up 2.77% on Wednesday, hitting GBX 3334.50. 4,895,616 shares of the company’s stock traded hands. Rio Tinto plc has a 52 week low of GBX 2838.00 and a 52 week high of GBX 3641.9998. The stock has a 50-day moving average of GBX 3160. and a 200-day moving average of GBX 3264.43. The company’s market cap is £61.642 billion.
A number of other firms have also recently commented on RIO. Analysts at RBC Capital reiterated an “outperform” rating on shares of Rio Tinto plc in a research note on Monday. They now have a GBX 3,700 ($63.35) price target on the stock. Separately, analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Rio Tinto plc in a research note on Wednesday, July 9th. They now have a GBX 4,000 ($68.48) price target on the stock. Finally, analysts at Barclays reiterated an “overweight” rating on shares of Rio Tinto plc in a research note on Tuesday, July 8th. They now have a GBX 3,600 ($61.63) price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned 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 3,726.13 ($63.79).
Rio Tinto plc (LON:RIO) is an international mining company.
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