Deutsche Bank Reiterates Buy Rating for Rio Tinto Limited (RIO)
Rio Tinto Limited (ASX:RIO)‘s stock had its “buy” rating reaffirmed by research analysts at Deutsche Bank in a report released on Sunday. They currently have a $85.25 price target on the stock. The analysts noted that the move was a valuation call.
RIO has been the subject of a number of other recent research reports. Analysts at Barclays upgraded shares of Rio Tinto Limited from an “equal weight” rating to a “buy” rating in a research note on Sunday, July 13th. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Rio Tinto Limited in a research note on Tuesday, May 13th. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of Rio Tinto Limited in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a buy rating, Rio Tinto Limited currently has an average rating of “Buy” and a consensus target price of A$85.25 ($80.42).
Rio Tinto Limited (ASX:RIO) opened at 64.290 on Friday. Rio Tinto Limited has a 1-year low of A$56.000 and a 1-year high of A$71.300. The stock’s 50-day moving average is A$60.48 and its 200-day moving average is A$63.26. The company has a market cap of A$118.8 billion and a price-to-earnings ratio of 32.82.
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.
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