Rio Tinto (LON:RIO)‘s stock had its “buy” rating reiterated by equities research analysts at Citigroup in a research report issued to clients and investors on Wednesday. They presently have a GBX 4,050 ($55.95) target price on the stock. Citigroup’s price objective indicates a potential upside of 10.70% from the stock’s current price.
A number of other research analysts also recently weighed in on the company. Goldman Sachs set a GBX 3,300 ($45.59) price target on Rio Tinto and gave the company a “neutral” rating in a research note on Monday, December 11th. Deutsche Bank increased their price target on Rio Tinto from GBX 4,500 ($62.17) to GBX 4,600 ($63.55) and gave the company a “buy” rating in a research note on Monday, January 15th. HSBC reissued a “buy” rating and issued a GBX 4,000 ($55.26) price target on shares of Rio Tinto in a research note on Monday, December 4th. Liberum Capital increased their price target on Rio Tinto from GBX 2,450 ($33.85) to GBX 2,750 ($37.99) and gave the company a “sell” rating in a research note on Monday, November 27th. Finally, JPMorgan Chase & Co. set a GBX 3,750 ($51.81) price target on Rio Tinto and gave the company a “neutral” rating in a research note on Thursday, December 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of GBX 4,153.95 ($57.39).
RIO stock opened at GBX 3,658.50 ($50.55) on Wednesday. The firm has a market capitalization of $67,730.00 and a price-to-earnings ratio of 996.87. Rio Tinto has a 12 month low of GBX 2,882.50 ($39.82) and a 12 month high of GBX 4,226.56 ($58.39).
In related news, insider Christopher Lynch sold 9,505 shares of the firm’s stock in a transaction on Monday, February 19th. The stock was sold at an average price of GBX 4,072 ($56.26), for a total transaction 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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