Rio Tinto (LON:RIO) Rating Reaffirmed
The broker has just set a target price of GBX 2520 on Rio Tinto (LON:RIO) shares. This is 32.21% from the closing share price. In an interesting research report issued on Monday morning, Bernstein reaffirmed their “Outperform” rating on shares of RIO.
From a total of 27 analysts covering Rio Tinto PLC (LON:RIO) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is GBX 49.17 while the lowest target price is GBX 25.33. The mean of all analyst targets is GBX 38.34 with a 36.32% above today’s (GBX 1916.5) stock price. Rio Tinto PLC was the topic of 148 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Beaufort Securities maintained shares on December 16 with “Speculative Buy” rating. Bernstein maintained shares with “Outperform” rating and GBX 2520 target share price in a report from a December 14. Deutsche Bank maintained RIO stock in a recent report from December 16 with “Buy” rating. UBS maintained the rating on December 9. UBS has a “Buy” rating and a GBX 2700 price target on shares. Finally, Credit Suisse maintained the stock with “Neutral” rating in a report issued on a December 15.
Approximately 1.88 million shares of stock traded hands. Rio Tinto plc (LON:RIO) has declined 35.83% since May 22, 2015 and is downtrending. It has underperformed by 30.02% the S&P500.
Rio Tinto plc is a global mining company. The company has a market cap of 35.22 billion GBP. Rio Tinto focuses on finding, mining, and processing the Earth’s mineral resources. It has 18.1 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.”