Rio Tinto (LON:RIO) Rating Reaffirmed
The broker has just set a price target of GBX 2580 on Rio Tinto (LON:RIO) shares. This is 38.00% from the current price. In an analyst note revealed to investors on Tuesday morning, Morgan Stanley has restated their Overwt/Attractive rating on shares of RIO.
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 53.25 while the lowest target price is GBX 27.77. The mean of all analyst targets is GBX 39.79 with a 39.46% above today’s (GBX 1892) stock price. Rio Tinto PLC was the topic of 144 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Credit Suisse maintained shares on December 15 with “Neutral” rating. Barclays Capital maintained shares with “Overweight” rating and GBX 2800 target share price in a report from a December 9. Canaccord Genuity maintained RIO stock in a recent report from December 9 with “Buy” rating. J.P. Morgan maintained the rating on December 9. J.P. Morgan has a “Overweight” rating and a GBX 3000 price target on shares. Finally, Goldman Sachs maintained the stock with “Buy” rating in a report issued on a December 9.
Approximately 1.02 million shares of stock traded hands. Rio Tinto plc (LON:RIO) has declined 36.82% since May 18, 2015 and is downtrending. It has underperformed by 33.14% the S&P500.
Rio Tinto plc is a global mining company. The company has a market cap of 34.87 billion GBP. Rio Tinto focuses on finding, mining, and processing the Earth’s mineral resources. It has 18.16 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.”