Today: Rio Tinto plc (RIO) Receives Buy Rating from HSBC

Today: Rio Tinto plc (RIO) Receives Buy Rating from HSBC

HSBC reiterated their buy rating on shares of Rio Tinto plc (LON:RIO) in a research report sent to investors on Friday. HSBC currently has a GBX 3,300 ($41.23) price target on the stock.

A number of other brokerages also recently commented on RIO. Societe Generale lifted their target price on shares of Rio Tinto plc from GBX 2,900 ($36.23) to GBX 3,000 ($37.48) and gave the stock a hold rating in a research note on Friday. Deutsche Bank AG lifted their target price on shares of Rio Tinto plc from GBX 3,245 ($40.54) to GBX 3,250 ($40.60) and gave the stock a buy rating in a research note on Monday, November 14th. Macquarie lifted their target price on shares of Rio Tinto plc from GBX 3,500 ($43.73) to GBX 3,700 ($46.23) and gave the stock an outperform rating in a research note on Monday, November 14th. Barclays PLC reaffirmed an overweight rating on shares of Rio Tinto plc in a research note on Thursday, November 10th. Finally, Jefferies Group lifted their target price on shares of Rio Tinto plc from GBX 3,100 ($38.73) to GBX 3,300 ($41.23) and gave the stock a buy rating in a research note on Thursday, November 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average target price of GBX 2,881.56 ($36.00).

Shares of Rio Tinto plc (LON:RIO) opened at 3106.50 on Friday. The firm has a 50-day moving average of GBX 2,838.65 and a 200 day moving average of GBX 2,414.85. The firm’s market capitalization is GBX 55.88 billion. Rio Tinto plc has a 52 week low of GBX 1,557.00 and a 52 week high of GBX 3,217.00.

In other news, insider Jean-Sébastien Jacques acquired 14 shares of the business’s stock in a transaction on Monday, October 17th. The stock was bought at an average price of GBX 2,612 ($32.63) per share, for a total transaction of £365.68 ($456.87).

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