CLSA Downgrades Rio Tinto plc (ADR) to Underperform

Brokerage firm CLSA Downgrades its rating on Rio Tinto plc (ADR)(NYSE:RIO). The shares have been rated Underperform. Previously, the analysts had a Outperform rating on the shares. The rating by CLSA was issued on Apr 14, 2016.

In a different note, On Mar 31, 2016, Axiom said it Downgrades its rating on Rio Tinto plc (ADR). In the research note, the firm Lowers the price-target to $19.00 per share. The shares have been rated ‘Sell’ by the firm. Argus Research said it Initiates Coverage on Rio Tinto plc (ADR), according to a research note issued on Mar 30, 2016. The shares have been rated ‘Buy’ by the firm. On Mar 14, 2016, Morgan Stanley said it Downgrades its rating on Rio Tinto plc (ADR). The shares have been rated ‘Equal-weight’ by the firm. On Mar 1, 2016, RBC Capital said it Upgrades its rating on Rio Tinto plc (ADR). The shares have been rated ‘Sector Perform’ by the firm. RBC Capital said it Initiates Coverage on Rio Tinto plc (ADR), according to a research note issued on Feb 9, 2016. The shares have been rated ‘Underperform’ by the firm.

Rio Tinto plc (ADR) (RIO) made into the market gainers list on Mondays trading session with the shares advancing 2.49% or 0.79 points. Due to strong positive momentum, the stock ended at $32.46, which is also near the day’s high of $32.56. The stock began the session at $31.56 and the volume stood at 43,04,936 shares. The 52-week high of the shares is $47.37 and the 52 week low is $21.885. The company has a current market capitalization of $58,710 M and it has 1,80,86,78,600 shares in outstanding.

Rio Tinto plc (Rio Tinto) is a global mining company. Rio Tinto focuses on finding mining and processing the Earth’s mineral resources. The Company operates through five product groups including aluminum copper diamonds and minerals energy product and iron ore. Its aluminum product group includes business includes bauxite mines large-scale alumina refineries aluminum smelters. The Company’s copper core properties include Rio Tinto Kennecott Oyu Tolgoi Escondida and Grasberg. Rio Tinto Kennecott supplies approximately 20% of United States refined copper requirements and is a mining concentrating smelting and refining operations property. Rio Tinto Diamonds is a diamond producer engaged in mining manufacturing selling and marketing diamonds. Rio Tinto’s Energy product group produces coal and uranium. Rio Tinto operates iron ore portfolio. Exploration joint ventures were established in Canada the United States Chile Mexico and Australia.

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