Barclays Increases Rio Tinto (RIO) Price Target to GBX 4,100
Rio Tinto (LON:RIO) had its price target raised by stock analysts at Barclays from GBX 3,750 ($49.00) to GBX 4,100 ($53.57) in a research note issued to investors on Thursday. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 6.01% from the company’s current price.
Other analysts also recently issued reports about the company. Credit Suisse Group set a GBX 5,000 ($65.33) target price on Rio Tinto and gave the company a “buy” rating in a research note on Wednesday, September 19th. Royal Bank of Canada set a GBX 3,200 ($41.81) price target on Rio Tinto and gave the company a “sell” rating in a research note on Wednesday, October 3rd. Citigroup reiterated a “buy” rating on shares of Rio Tinto in a research note on Friday, September 21st. Liberum Capital upgraded Rio Tinto to a “hold” rating in a research note on Tuesday, September 18th. Finally, Deutsche Bank reiterated a “hold” rating on shares of Rio Tinto in a research note on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of GBX 4,163.75 ($54.41).
Shares of RIO opened at GBX 3,867.50 ($50.54) on Thursday. Rio Tinto has a one year low of GBX 2,882.50 ($37.66) and a one year 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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