Rio Tinto (LON:RIO) Rating Reaffirmed
London: In recent note sent to investors on 8 December, Morgan Stanley has decided to reaffirm their Overwt/Attractive rating on Rio Tinto (LON:RIO) shares. They now have a GBX 2580 price target on the company. Morgan Stanley’s target would possibly suggest a potential upside of 31.36% from the company’s closing share price.
From a total of 27 analysts covering Rio Tinto PLC (LON:RIO) stock, 19 rate it a ”Buy”, 4 a “Sell”, and 5 a ”Hold”. This means that 68% of the ratings are positive. The highest target price is GBX 59.79 while the lowest target price is GBX 28.4. The mean of all analyst targets is GBX 40.14 with a 35.72% above today’s (GBX 1951.5) stock price. Rio Tinto PLC was the topic of 132 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Citigroup maintained shares on December 8 with “Buy” rating. Barclays Capital maintained shares with “Overweight” rating and GBX 2800 target share price in a report from a November 30. UBS maintained RIO stock in a recent report from November 30 with “Buy” rating. Deutsche Bank maintained the rating on November 30. Deutsche Bank has a “Buy” rating and a GBX 3450 price target on shares. Finally, Macquarie Research maintained the stock with “Outperform” rating in a report issued on a November 30.
Approximately 3.52M shares of stock traded hands. Rio Tinto plc (LON:RIO) has declined 31.82% since May 11, 2015 and is downtrending. It has underperformed by 31.22% the S&P500.
Rio Tinto plc is a global mining company. The company has a market cap of 35.54 billion GBP. Rio Tinto focuses on finding, mining, and processing the Earth’s mineral resources. It has 18.73 P/E ratio. The Firm operates through five product groups, including aluminum, copper, diamonds and minerals, energy product and iron ore.
According to Zacks Investment Research, “Rio Tinto PLC is an international mining company. The Company has interests in mining for aluminum, borax, coal, copper, gold, iron ore, lead, silver, tin, uranium, zinc, titanium, dioxide feedstock, diamonds, talc and zircon. RTZ’s various mining operations are located in New Zealand, Australia, South Africa, Europe and Canada.” Get a free copy of the Zacks research report on Rio Tinto plc (RIO).