Deutsche Bank restated their buy rating on shares of Rio Tinto (LON:RIO) in a research report released on Tuesday morning. Deutsche Bank currently has a GBX 4,500 ($60.57) price objective on the stock.
A number of other analysts have also recently weighed in on the stock. Citigroup raised shares of Rio Tinto to a buy rating and set a GBX 4,050 ($54.51) price objective on the stock in a report on Tuesday. HSBC reaffirmed a buy rating and issued a GBX 4,000 ($53.84) price objective on shares of Rio Tinto in a report on Monday. Macquarie reaffirmed an outperform rating and issued a GBX 4,400 ($59.22) price objective on shares of Rio Tinto in a report on Friday, December 1st. Morgan Stanley set a GBX 3,700 ($49.80) price objective on shares of Rio Tinto and gave the stock a neutral rating in a report on Wednesday, November 29th. Finally, Liberum Capital increased their price objective on shares of Rio Tinto from GBX 2,450 ($32.97) to GBX 2,750 ($37.01) and gave the stock a sell rating in a report on Monday, November 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. Rio Tinto has an average rating of Buy and a consensus target price of GBX 3,987.25 ($53.66).
Shares of Rio Tinto (RIO) opened at GBX 3,467.50 ($46.67) on Tuesday. Rio Tinto has a twelve month low of GBX 2,882.50 ($38.80) and a twelve month high of GBX 4,226.56 ($56.89).
In other news, insider Christopher Lynch bought 26,066 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was bought at an average cost of GBX 3,490 ($46.97) per share, for a total transaction of £909,703.40 ($1,224,365.28). Also, insider Jean-Sébastien Jacques bought 10 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was purchased at an average price of GBX 3,721 ($50.08) per share, with a total value of £372.10 ($500.81).
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About Rio Tinto
Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.
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