Breaking: JP Morgan Cazenove Maintains GBX 3000.00 Price Objective On Rio Tinto (LON:RIO) Shares, Maintains Their Original Overweight Rating

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Rio Tinto (LON:RIO) Rating Reaffirmed

Rio Tinto (LON:RIO) just had their share rating of a ‘Overweight’ issued by research analysts at JP Morgan Cazenove, who now has a GBX 3000.00 price target on the 38.18B GBP market cap company or a 52.56% upside potential. This key information was revealed in recent note on Wednesday morning.

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 60.21 while the lowest target price is GBX 28.6. The mean of all analyst targets is GBX 40.23 with a 34.97% above today’s (GBX 1914.94) stock price. Rio Tinto PLC was the topic of 136 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Barclays Capital maintained shares on December 9 with “Overweight” rating. Bernstein maintained shares with “Outperform” rating and GBX 2520 target share price in a report from a December 7. Credit Suisse maintained RIO stock in a recent report from December 8 with “Neutral” rating. UBS maintained the rating on November 30. UBS has a “Buy” rating and a GBX 2700 price target on shares. Finally, Citigroup maintained the stock with “Buy” rating in a report issued on a December 8.

The stock increased 1.16% or GBX 21.94 on December 9, striking GBX 1914.94. Approximately 10.43M shares of stock traded hands or 96.05% up from the average. Rio Tinto plc (LON:RIO) has declined 36.79% since May 12, 2015 and is downtrending. It has underperformed by 36.00% the S&P500.

Breaking: JP Morgan Cazenove Maintains GBX 3000.00 Price Objective On Rio Tinto (LON:RIO) Shares, Maintains Their Original Overweight Rating

Rio Tinto plc is a global mining company. The company has a market cap of 38.18 billion GBP. Rio Tinto focuses on finding, mining, and processing the Earth’s mineral resources. It has 18.27 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).

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