Rio Tinto plc (ADR) (RIO) was Upgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Sell ” on the company shares. Citigroup advised their investors in a research report released on Jun 7, 2016.
Many Wall Street Analysts have commented on Rio Tinto plc (ADR). Company shares were Reiterated by Cowen on May 3, 2016 to “Market Perform”, Firm has raised the Price Target to $ 35 from a previous price target of $27 .Rio Tinto plc (ADR) was Downgraded by Citigroup to ” Sell” on Apr 18, 2016. Rio Tinto plc (ADR) was Downgraded by Credit Agricole to ” Underperform” on Apr 14, 2016.
Rio Tinto plc (ADR) opened for trading at $27.9 and hit $28.38 on the upside on Friday, eventually ending the session at $28.34, with a gain of 2.76% or 0.76 points. The heightened volatility saw the trading volume jump to 51,45,563 shares. Company has a market cap of $51,258 M.
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.