Barclays Upgrades Rio Tinto Limited to Buy (RIO)
Shares of Rio Tinto Limited (ASX:RIO) traded up 0.97% on Tuesday, hitting A$66.390. The stock had a trading volume of 1,078,496 shares. Rio Tinto Limited has a 52 week low of A$57.060 and a 52 week high of A$71.300. The stock’s 50-day moving average is A$61.48 and its 200-day moving average is A$63.08. The company has a market cap of A$122.7 billion and a price-to-earnings ratio of 33.32.
RIO has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Rio Tinto Limited in a research note on Monday. They now have a $85.25 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Rio Tinto Limited in a research note on Monday. Finally, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Rio Tinto Limited in a research note on Sunday, July 20th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock 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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