HSBC Increases Rio Tinto Price Target to GBX 4,060 (RIO)

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Equities research analysts at HSBC lifted their target price on shares of Rio Tinto (LON:RIO) from GBX 3,850 ($63.20) to GBX 4,060 ($66.64) in a research note issued to investors on Wednesday, American Banking News reports. The firm currently has an “overweight” rating on the stock. HSBC’s price target suggests a potential upside of 25.64% from the company’s current price.

A number of other firms have also recently commented on RIO. Analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Rio Tinto in a research note to investors on Tuesday. They now have a GBX 4,125 ($67.71) price target on the stock. Separately, analysts at Macquarie reiterated an “outperform” rating on shares of Rio Tinto in a research note to investors on Friday, January 17th. They now have a GBX 4,200 ($68.94) price target on the stock. Finally, analysts at UBS AG raised their price target on shares of Rio Tinto from GBX 4,040 ($66.32) to GBX 4,050 ($66.48) in a research note to investors on Friday, January 17th. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-one have issued a buy rating to the stock. Rio Tinto has a consensus rating of “Buy” and an average target price of GBX 3,817.44 ($62.66).

Rio Tinto (LON:RIO) opened at 3277.00 on Wednesday. Rio Tinto has a 52-week low of GBX 2579.2219 and a 52-week high of GBX 3872.6101. The stock’s 50-day moving average is GBX 3274.91 and its 200-day moving average is GBX 3135.59. The company’s market cap is £60.549 billion.

Rio Tinto plc (LON:RIO) is engaged in minerals exploration, development, production and processing.

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