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).
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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.
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