Price Target Update on Rio Tinto Plc (NYSE:RIO)

Rio Tinto Plc (NYSE:RIO) stock is expected to deviate a maximum of $6.82 from the average target price of $30.11 for the short term period. 3 Street Experts have initiated coverage on the stock with the most promising target being $35 and the most muted being $22.

Other Equity analysts have also commented on the company shares. Citigroup upgrades their rating on the shares of Rio Tinto Plc (NYSE:RIO). The current rating of the shares is Neutral. Earlier, the shares were rated a Sell by the brokerage firm. The rating by the firm was issued on June 7, 2016.

Rio Tinto Plc (NYSE:RIO): stock turned positive on Thursday. Though the stock opened at $31.25, the bulls momentum made the stock top out at $31.26 level for the day. The stock recorded a low of $30.58 and closed the trading day at $31.09, in the green by 2.47%. The total traded volume for the day was 5,117,077. The stock had closed at $30.34 in the previous days trading.

The company shares have dropped -29.28% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $43.49 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $28.96 and the 200 Day Moving Average price is recorded at $28.30.

Rio Tinto plc (Rio Tinto) is a global mining company. Rio Tinto focuses on finding, mining, and processing the Earths 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 Companys 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 Tintos 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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