Rio Tinto Limited Rating Reiterated by CIMB (RIO)
Shares of Rio Tinto Limited (ASX:RIO) traded down 1.67% during mid-day trading on Thursday, hitting A$63.060. The stock had a trading volume of 2,375,600 shares. Rio Tinto Limited has a 52 week low of A$57.060 and a 52 week high of A$71.300. The stock has a 50-day moving average of A$64.90 and a 200-day moving average of A$63.17. The company has a market cap of A$116.6 billion and a price-to-earnings ratio of 18.77.
Several other analysts have also recently commented on the stock. 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 issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of A$88.63 ($82.06).
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.