Rio Tinto Limited’s “add” Rating Reaffirmed at CIMB (RIO)
Rio Tinto Limited (ASX:RIO)‘s stock had its “add” rating reiterated by analysts at CIMB in a research report issued to clients and investors on Wednesday. They currently have a $92.00 price target on the stock.
Rio Tinto Limited (ASX:RIO) traded down 0.63% on Wednesday, hitting A$65.980. The stock had a trading volume of 1,580,448 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$64.50 and its 200-day moving average is A$63.19. The company has a market cap of A$122.0 billion and a price-to-earnings ratio of 19.43.
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 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of A$88.63 ($82.83).
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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