Several other research analysts have also recently commented on the stock. Deutsche Bank reaffirmed a hold rating and set a GBX 4,300 ($56.19) target price on shares of Rio Tinto in a report on Tuesday. HSBC raised their target price on shares of Rio Tinto from GBX 4,790 ($62.59) to GBX 4,860 ($63.50) and gave the stock a buy rating in a report on Wednesday, October 31st. Societe Generale cut shares of Rio Tinto from a buy rating to a hold rating and decreased their price objective for the company from GBX 4,050 ($52.92) to GBX 3,830 ($50.05) in a research note on Thursday, October 25th. JPMorgan Chase & Co. set a GBX 5,000 ($65.33) price objective on shares of Rio Tinto and gave the company a buy rating in a research note on Tuesday, October 23rd. Finally, Royal Bank of Canada reissued an underperform rating and issued a GBX 3,200 ($41.81) price objective on shares of Rio Tinto in a research note on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of GBX 4,196.47 ($54.83).
Shares of RIO traded down GBX 130 ($1.70) during mid-day trading on Wednesday, hitting GBX 3,849.50 ($50.30). 4,515,931 shares of the company’s stock were exchanged, compared to its average volume of 4,860,000. Rio Tinto has a 52 week low of GBX 2,882.50 ($37.66) and a 52 week high of GBX 4,226.56 ($55.23).
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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