Rio Tinto plc’s Buy Rating Reaffirmed at Deutsche Bank (RIO)
Rio Tinto plc (LON:RIO)‘s stock had its “buy” rating reiterated by equities researchers at Deutsche Bank in a research report issued on Thursday. They currently have a GBX 4,550 ($77.90) target price on the stock. Deutsche Bank’s target price would suggest a potential upside of 37.24% from the stock’s previous close.
Rio Tinto plc (LON:RIO) traded down 0.57% on Thursday, hitting GBX 3315.3301. 4,007,728 shares of the company’s stock traded hands. Rio Tinto plc has a one year low of GBX 2867.00 and a one year high of GBX 3641.9998. The stock’s 50-day moving average is GBX 3162.62 and its 200-day moving average is GBX 3264.. The company’s market cap is £61.288 billion.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs cut their price target on shares of Rio Tinto plc from GBX 2,530 ($43.31) to GBX 2,520 ($43.14) in a research note on Thursday. They now have a “strong sell” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Rio Tinto plc from GBX 4,100 ($70.19) to GBX 4,150 ($71.05) in a research note on Thursday. They now have an “overweight” rating on the stock. Finally, analysts at Beaufort Securities reiterated a “buy” rating on shares of Rio Tinto plc in a research note on Thursday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seventeen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of GBX 3,713.17 ($63.57).
Rio Tinto plc (LON:RIO) is an international mining company.
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