A number of other brokerages have also recently weighed in on RIO. HSBC reissued a buy rating and set a GBX 4,000 ($53.84) price objective on shares of Rio Tinto in a report on Monday. Macquarie reissued a buy rating on shares of Rio Tinto in a report on Monday, November 6th. Societe Generale raised Rio Tinto to a buy rating and raised their price objective for the company from GBX 3,600 ($48.45) to GBX 4,400 ($59.22) in a report on Thursday, November 9th. J P Morgan Chase & Co raised their price objective on Rio Tinto from GBX 4,000 ($53.84) to GBX 4,100 ($55.18) and gave the company an overweight rating in a report on Tuesday, September 5th. Finally, Morgan Stanley set a GBX 3,700 ($49.80) price objective on Rio Tinto and gave the company a neutral rating in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company. Rio Tinto presently has an average rating of Buy and an average price target of GBX 3,987.25 ($53.66).
Shares of Rio Tinto (LON:RIO) traded up GBX 14.50 ($0.20) during midday trading on Tuesday, hitting GBX 3,483 ($46.88). The company had a trading volume of 2,271,650 shares, compared to its average volume of 3,830,000. Rio Tinto has a 52 week low of GBX 2,882.50 ($38.80) and a 52 week high of GBX 4,226.56 ($56.89).
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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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