Rio Tinto (LON:RIO)‘s stock had its “buy” rating reissued by research analysts at Deutsche Bank in a research report issued on Tuesday. They currently have a GBX 4,500 ($60.57) target price on the stock. Deutsche Bank’s price objective indicates a potential upside of 27.12% from the stock’s current price.
Several other research analysts also recently weighed in on the company. Citigroup upgraded Rio Tinto to a “buy” rating in a research note on Tuesday. HSBC reiterated 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 reissued an “outperform” rating and issued a GBX 4,400 ($59.22) price target on shares of Rio Tinto in a report on Friday. Morgan Stanley set a GBX 3,700 ($49.80) price target on Rio Tinto and gave the company a “neutral” rating in a report on Wednesday, November 29th. Finally, Liberum Capital raised their price target on Rio Tinto from GBX 2,450 ($32.97) to GBX 2,750 ($37.01) and gave the company a “sell” rating in a report on Monday, November 27th. 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’s stock. The company currently has an average rating of “Buy” and a consensus price target of GBX 3,954.75 ($53.23).
Rio Tinto (RIO) opened at GBX 3,540 ($47.64) 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).
In related news, insider Jean-Sébastien Jacques purchased 10 shares of the company’s stock in a transaction on Tuesday, October 17th. The stock was bought at an average price of GBX 3,721 ($50.08) per share, with a total value of £372.10 ($500.81).
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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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