HSBC Cuts Rio Tinto (RIO) Price Target to GBX 4,100

Rio Tinto (LON:RIO) had its price objective dropped by investment analysts at HSBC from GBX 4,300 ($60.29) to GBX 4,100 ($57.49) in a report issued on Thursday. The brokerage presently has a “hold” rating on the stock. HSBC’s price objective would indicate a potential upside of 8.22% from the company’s previous close.

RIO has been the topic of several other research reports. Citigroup upgraded Rio Tinto to a “buy” rating and set a GBX 4,050 ($56.79) price objective on the stock in a research report on Tuesday, December 5th. Goldman Sachs Group set a GBX 3,300 ($46.27) price objective on Rio Tinto and gave the stock a “neutral” rating in a research report on Monday, December 11th. Deutsche Bank upped their price objective on Rio Tinto from GBX 4,300 ($60.29) to GBX 4,500 ($63.10) and gave the stock a “buy” rating in a research report on Friday, October 13th. Barclays upped their price objective on Rio Tinto from GBX 4,100 ($57.49) to GBX 4,500 ($63.10) and gave the stock an “overweight” rating in a research report on Tuesday, October 24th. Finally, Societe Generale upgraded Rio Tinto to a “buy” rating and upped their price objective for the stock from GBX 3,600 ($50.48) to GBX 4,400 ($61.69) in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of GBX 4,138.16 ($58.02).

Shares of Rio Tinto (LON:RIO) traded up GBX 31.50 ($0.44) during midday trading on Thursday, reaching GBX 3,788.50 ($53.12). The company had a trading volume of 5,570,000 shares, compared to its average volume of 3,730,000. The stock has a market capitalization of $68,440.00 and a price-to-earnings ratio of 1,082.43. Rio Tinto has a 52-week low of GBX 2,882.50 ($40.42) and a 52-week high of GBX 4,226.56 ($59.26).

In other news, insider Christopher Lynch acquired 26,066 shares of Rio Tinto stock in a transaction that occurred on Friday, December 1st. The stock was purchased at an average cost of GBX 3,490 ($48.93) per share, with a total value of £909,703.40 ($1,275,523.56).

TRADEMARK VIOLATION WARNING: “HSBC Cuts Rio Tinto (RIO) Price Target to GBX 4,100” was published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/02/11/hsbc-cuts-rio-tinto-rio-price-target-to-gbx-4100.html.

Rio Tinto Company Profile

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

Analyst Recommendations for Rio Tinto (LON:RIO)

Receive News & Ratings for Rio Tinto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply