Rio Tinto (LON:RIO)‘s stock had its “buy” rating restated by Jefferies Group in a report issued on Tuesday. They presently have a GBX 4,200 ($56.53) price target on the stock. Jefferies Group’s target price would indicate a potential upside of 22.32% from the stock’s previous close.
A number of other analysts have also weighed in on the company. HSBC restated a “buy” rating and issued a GBX 4,000 ($53.84) target price on shares of Rio Tinto in a research note on Monday. Macquarie reiterated a “buy” rating on shares of Rio Tinto in a research report on Monday, November 6th. Societe Generale upgraded Rio Tinto to a “buy” rating and lifted their price objective for the stock from GBX 3,600 ($48.45) to GBX 4,400 ($59.22) in a research report on Thursday, November 9th. J P Morgan Chase & Co raised their target price on Rio Tinto from GBX 4,000 ($53.84) to GBX 4,100 ($55.18) and gave the stock an “overweight” rating in a report on Tuesday, September 5th. Finally, Morgan Stanley set a GBX 3,700 ($49.80) target price on Rio Tinto and gave the stock a “neutral” rating in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. Rio Tinto has a consensus rating of “Buy” and a consensus price target of GBX 3,987.25 ($53.66).
Rio Tinto (RIO) opened at GBX 3,433.50 ($46.21) on Tuesday. Rio Tinto has a 12 month low of GBX 2,882.50 ($38.80) and a 12 month high of GBX 4,226.56 ($56.89).
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About Rio Tinto
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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