Rio Tinto (LON:RIO)‘s stock had its “outperform” rating reiterated by investment analysts at Macquarie in a report issued on Friday. They currently have a GBX 4,700 ($66.00) price objective on the stock. Macquarie’s price target points to a potential upside of 19.46% from the company’s current price.
Several other equities analysts have also weighed in on RIO. Deutsche Bank reaffirmed a “buy” rating and set a GBX 4,300 ($60.38) price objective on shares of Rio Tinto in a research report on Thursday, October 5th. UBS Group set a GBX 4,000 ($56.17) price objective on shares of Rio Tinto and gave the company a “buy” rating in a research report on Thursday, October 5th. Morgan Stanley set a GBX 3,700 ($51.96) price objective on shares of Rio Tinto and gave the company a “neutral” rating in a research report on Tuesday, October 17th. Jefferies Group reaffirmed a “buy” rating and set a GBX 4,200 ($58.98) price objective on shares of Rio Tinto in a research report on Wednesday, October 18th. Finally, raised their price objective on shares of Rio Tinto from GBX 3,900 ($54.77) to GBX 4,000 ($56.17) and gave the company a “buy” rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of GBX 4,087.25 ($57.40).
Shares of Rio Tinto (LON RIO) traded up GBX 33 ($0.46) on Friday, reaching GBX 3,934.50 ($55.25). 2,549,443 shares of the company traded hands, compared to its average volume of 3,070,000. The company has a market capitalization of $69,720.00 and a price-to-earnings ratio of 1,639.38. Rio Tinto has a 52-week low of GBX 2,882.50 ($40.48) and a 52-week high of GBX 4,226.56 ($59.35).
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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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