Rio Tinto Limited’s “Equal Weight” Rating Reaffirmed at Morgan Stanley (RIO)
Shares of Rio Tinto Limited (ASX:RIO) traded down 0.71% on Friday, hitting A$64.290. The stock had a trading volume of 1,608,578 shares. Rio Tinto Limited has a 52 week low of A$56.000 and a 52 week high of A$71.300. The stock has a 50-day moving average of A$60.48 and a 200-day moving average of A$63.26. The company has a market cap of A$118.8 billion and a P/E ratio of 32.82.
A number of other firms have also recently commented on RIO. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Rio Tinto Limited in a research note on Sunday. They now have a $85.25 price target on the stock. They noted that the move was a valuation call. Separately, 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Rio Tinto Limited has a consensus rating of “Buy” and an average target price of A$85.25 ($80.42).
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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