Rio Tinto (LON:RIO) received a GBX 4,000 ($55.26) price objective from stock analysts at UBS in a note issued to investors on Wednesday. The firm presently has a “buy” rating on the stock. UBS’s price target would indicate a potential upside of 13.59% from the company’s current price.
Several other equities research analysts have also recently commented on RIO. Liberum Capital raised their target price on Rio Tinto from GBX 2,450 ($33.85) to GBX 2,750 ($37.99) and gave the stock a “sell” rating in a research note on Monday, November 27th. Morgan Stanley set a GBX 3,700 ($51.12) target price on Rio Tinto and gave the stock a “neutral” rating in a research note on Wednesday, November 29th. Macquarie reaffirmed an “outperform” rating and set a GBX 4,400 ($60.79) target price on shares of Rio Tinto in a research note on Friday, December 1st. HSBC reaffirmed a “buy” rating and set a GBX 4,000 ($55.26) target price on shares of Rio Tinto in a research note on Monday, December 4th. Finally, Citigroup raised Rio Tinto to a “buy” rating and set a GBX 4,050 ($55.95) target price for the company in a research note on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. Rio Tinto has a consensus rating of “Buy” and an average target price of GBX 4,153.95 ($57.39).
Shares of RIO stock opened at GBX 3,521.50 ($48.65) on Wednesday. Rio Tinto has a one year low of GBX 2,882.50 ($39.82) and a one year high of GBX 4,226.56 ($58.39). The company has a market capitalization of $67,730.00 and a P/E ratio of 959.54.
In other Rio Tinto news, insider Christopher Lynch sold 9,505 shares of the firm’s stock in a transaction that occurred on Monday, February 19th. The stock was sold at an average price of GBX 4,072 ($56.26), for a total value of £387,043.60 ($534,738.33).
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About Rio Tinto
Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.
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