Rio Tinto (LON:RIO) has been assigned a GBX 3,800 ($50.99) price target by Goldman Sachs in a research note issued to investors on Wednesday. The brokerage currently has a “neutral” rating on the stock. Goldman Sachs’ price objective would suggest a potential downside of 12.14% from the stock’s previous close.
RIO has been the topic of a number of other reports. BNP Paribas reiterated a “neutral” rating on shares of Rio Tinto in a research note on Thursday, May 17th. UBS set a GBX 4,000 ($53.67) target price on shares of Rio Tinto and gave the company a “buy” rating in a research note on Thursday, April 19th. Morgan Stanley set a GBX 3,900 ($52.33) target price on shares of Rio Tinto and gave the company a “neutral” rating in a research note on Wednesday, March 28th. Barclays lowered shares of Rio Tinto from an “overweight” rating to an “equal weight” rating and set a GBX 4,400 ($59.04) target price on the stock. in a research note on Friday, May 4th. Finally, Credit Suisse Group set a GBX 4,300 ($57.69) target price on shares of Rio Tinto and gave the company a “buy” rating in a research note on Tuesday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve 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 4,168.75 ($55.93).
Shares of Rio Tinto opened at GBX 4,325 ($58.03) on Wednesday, according to MarketBeat. Rio Tinto has a 12 month low of GBX 2,882.50 ($38.68) and a 12 month high of GBX 4,226.56 ($56.71).
In related news, insider Simon Henry purchased 500 shares of Rio Tinto stock in a transaction on Tuesday, April 10th. The stock was purchased at an average cost of GBX 3,713 ($49.82) per share, with a total value of £18,565 ($24,909.43).
Rio Tinto Company Profile
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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