Rio Tinto (RIO) PT Set at GBX 5,000 by Credit Suisse Group
Rio Tinto (LON:RIO) received a GBX 5,000 ($64.50) price target from analysts at Credit Suisse Group in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the stock. Credit Suisse Group’s target price suggests a potential upside of 42.47% from the stock’s current price.
A number of other analysts also recently weighed in on the company. UBS Group reiterated a “buy” rating on shares of Rio Tinto in a report on Thursday. Liberum Capital upgraded Rio Tinto to a “hold” rating and increased their price target for the stock from GBX 2,750 ($35.47) to GBX 3,600 ($46.44) in a report on Wednesday, August 22nd. Barclays decreased their price target on Rio Tinto from GBX 4,100 ($52.89) to GBX 3,750 ($48.37) and set an “equal weight” rating for the company in a report on Monday, August 6th. Goldman Sachs Group decreased their price target on Rio Tinto from GBX 3,950 ($50.95) to GBX 3,800 ($49.02) and set a “neutral” rating for the company in a report on Monday, August 6th. Finally, HSBC set a GBX 4,880 ($62.95) price target on Rio Tinto and gave the stock a “buy” rating in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. Rio Tinto currently has a consensus rating of “Hold” and a consensus price target of GBX 4,240.56 ($54.70).
Shares of Rio Tinto stock opened at GBX 3,509.50 ($45.27) on Friday. Rio Tinto has a 1-year low of GBX 2,882.50 ($37.18) and a 1-year high of GBX 4,226.56 ($54.52).
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.
See Also: Price to Earnings Ratio (PE)
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