In a report released today, Bob Brackett from Bernstein maintained a Buy rating on Rio Tinto (RIO – Research Report), with a price target of $77.50. The company’s shares closed yesterday at $66.78.
According to TipRanks, Brackett is a 5-star analyst with an average return of 18.8% and a 66.67% success rate. Brackett covers the Energy sector, focusing on stocks such as Conocophillips, Devon Energy, and APA.
Currently, the analyst consensus on Rio Tinto is a Moderate Buy with an average price target of $77.50.
The company has a one-year high of $72.11 and a one-year low of $54.85. Currently, Rio Tinto has an average volume of 3.04M.
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Rio Tinto (RIO) Company Description:
Founded in 1873, UK-based Rio Tinto Plc is engaged in the exploration, mining, and processing of mineral resources in over 35 countries. It produces iron ore for steel, aluminium for cars and smart phones, copper for wind turbines, diamonds. It has four product groups, including Iron Ore, Aluminium, Copper and Diamonds, and Energy and Minerals.
Read More on RIO:
- Rio Tinto backs FY24 Pilbara iron ore output outlook of 323-338Mt
- Rio Tinto reports Q1 Pilbara iron ore production 77.9 Mt, down 2% y/y
- Rio Tinto price target raised to 6,000 GBp from 5,900 GBp at Barclays
- GUNR ETF: Diversified Access to Surging Commodities Stocks
- Rio Tinto to partner with Founders Factory to invest A$14.4M in startups
