Rio Tinto (RIO) Given “Buy” Rating at Deutsche Bank

Rio Tinto (LON:RIO)‘s stock had its “buy” rating restated by stock analysts at Deutsche Bank in a research note issued to investors on Thursday. They presently have a GBX 4,600 ($64.50) target price on the stock. Deutsche Bank’s price target would suggest a potential upside of 21.42% from the stock’s current price.

Several other research firms have also recently weighed in on RIO. UBS Group set a GBX 4,000 ($56.09) price target on shares of Rio Tinto and gave the stock a “buy” rating in a report on Monday, January 29th. Morgan Stanley set a GBX 3,700 ($51.88) price target on shares of Rio Tinto and gave the stock a “neutral” rating in a report on Wednesday, November 29th. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 4,100 ($57.49) price target on shares of Rio Tinto in a report on Tuesday, December 5th. Jefferies Group restated a “buy” rating and set a GBX 4,200 ($58.89) price target on shares of Rio Tinto in a report on Tuesday, December 5th. Finally, Macquarie set a GBX 4,900 ($68.70) price target on shares of Rio Tinto and gave the stock a “buy” rating in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. Rio Tinto presently has a consensus rating of “Buy” and an average price target of GBX 4,138.16 ($58.02).

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

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

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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.

Analyst Recommendations for Rio Tinto (LON:RIO)

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