Rio Tinto Limited’s add Rating Reaffirmed at CIMB (RIO)
Rio Tinto Limited (ASX:RIO) traded down 0.69% during mid-day trading on Tuesday, hitting A$66.330. The stock had a trading volume of 2,902,785 shares. Rio Tinto Limited has a one year low of A$57.060 and a one year high of A$71.300. The stock has a 50-day moving average of A$63.53 and a 200-day moving average of A$63.17. The company has a market cap of A$122.7 billion and a price-to-earnings ratio of 19.55.
A number of other analysts have also recently weighed in on RIO. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Rio Tinto Limited in a research note on Tuesday, August 5th. 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, August 5th. Finally, analysts at Barclays upgraded shares of Rio Tinto Limited from an “equal weight” rating to a “buy” rating in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of A$84.63 ($78.36).
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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