Rio Tinto plc’s “Buy” Rating Reaffirmed at Canaccord Genuity (RIO)
Rio Tinto plc (LON:RIO)‘s stock had its “buy” rating reiterated by analysts at Canaccord Genuity in a research report issued to clients and investors on Wednesday. They currently have a GBX 4,200 ($71.91) price objective on the stock. Canaccord Genuity’s price objective points to a potential upside of 25.96% from the company’s current price.
A number of other firms have also recently commented on RIO. Analysts at Goldman Sachs reiterated a “strong-buy” rating on shares of Rio Tinto plc in a research note on Wednesday. They now have a GBX 2,530 ($43.31) price target on the stock. Separately, 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. Finally, 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. Two analysts have rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s 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) traded up 2.77% on Wednesday, hitting GBX 3334.50. The stock had a trading volume of 4,895,616 shares. Rio Tinto plc has a 52-week low of GBX 2838.00 and a 52-week high of GBX 3641.9998. The stock’s 50-day moving average is GBX 3160. and its 200-day moving average is GBX 3264.43. The company’s market cap is £61.642 billion.
Rio Tinto plc (LON:RIO) is an international mining company.
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