Rio Tinto plc (RIO) Given Average Recommendation of “Hold” by Brokerages
Rio Tinto plc (LON:RIO) has received a consensus recommendation of “Hold” from the eighteen brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is GBX 4,303.33 ($56.23).
A number of equities research analysts recently weighed in on RIO shares. HSBC upgraded Rio Tinto to a “buy” rating and increased their price target for the company from GBX 4,700 ($61.41) to GBX 5,100 ($66.64) in a research note on Thursday, June 21st. Royal Bank of Canada restated a “sector performer” rating and issued a GBX 3,900 ($50.96) price target on shares of Rio Tinto in a research note on Tuesday, June 26th. Deutsche Bank restated a “hold” rating and issued a GBX 4,700 ($61.41) price target on shares of Rio Tinto in a research note on Tuesday, June 26th. Credit Suisse Group increased their price target on Rio Tinto from GBX 4,300 ($56.19) to GBX 5,000 ($65.33) and gave the company an “outperform” rating in a research note on Wednesday, June 27th. Finally, Morgan Stanley upped their price objective on Rio Tinto from GBX 3,430 ($44.82) to GBX 4,100 ($53.57) and gave the company an “equal weight” rating in a report on Friday, June 29th.
RIO traded down GBX 35 ($0.46) during trading hours on Friday, reaching GBX 3,698 ($48.32). The company’s stock had a trading volume of 1,561,938 shares, 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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