UBS Group Reiterates “GBX 4,000” Price Target for Rio Tinto (RIO)
Rio Tinto (LON:RIO) has been assigned a GBX 4,000 ($55.26) price objective by equities researchers at UBS Group in a research note issued on Wednesday, www.boersen-zeitung.de reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 0.68% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on the company. Deutsche Bank set a GBX 4,600 ($63.55) price target on Rio Tinto and gave the company a “buy” rating in a research note on Wednesday. HSBC decreased their price target on Rio Tinto from GBX 4,300 ($59.41) to GBX 4,100 ($56.65) and set a “hold” rating for the company in a research note on Thursday, February 8th. Royal Bank of Canada set a GBX 4,200 ($58.03) price target on Rio Tinto and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Liberum Capital restated a “sell” rating and set a GBX 2,750 ($37.99) target price on shares of Rio Tinto in a research report on Wednesday, February 7th. Finally, Macquarie restated an “outperform” rating and set a GBX 4,700 ($64.94) target price on shares of Rio Tinto in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of GBX 4,138.16 ($57.17).
Shares of Rio Tinto (RIO) opened at GBX 3,973 ($54.89) on Wednesday. The firm has a market capitalization of $71,460.00 and a PE ratio of 1,131.91. Rio Tinto has a one year low of GBX 2,882.50 ($39.82) and a one year high of GBX 4,226.56 ($58.39).
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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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