Rio Tinto Limited Given Consensus Rating of “Buy” by Analysts (ASX:RIO)
Rio Tinto Limited (ASX:RIO) has earned an average rating of “Buy” from the seven ratings firms that are currently covering the company, Stock Ratings Network reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is A$84.63 ($79.09).
A number of analysts have recently weighed in on RIO shares. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Rio Tinto Limited in a research note on Tuesday. 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 Tuesday. Finally, analysts at CIMB reiterated an “add” rating on shares of Rio Tinto Limited in a research note on Monday, August 4th. They now have a $84.00 price target on the stock.
Rio Tinto Limited (ASX:RIO) opened at 66.430 on Tuesday. Rio Tinto Limited has a one year low of A$57.060 and a one year high of A$71.300. The stock’s 50-day moving average is A$63.07 and its 200-day moving average is A$63.1. The company has a market cap of A$122.8 billion and a price-to-earnings ratio of 33.61.
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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