Rio Tinto plc (ADR) (RIO) was Upgraded by Morgan Stanley to ” Overweight”. Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jun 28, 2016.
Many Wall Street Analysts have commented on Rio Tinto plc (ADR). Rio Tinto plc (ADR) was Upgraded by Goldman to ” Neutral” on Jun 27, 2016. Rio Tinto plc (ADR) was Upgraded by Citigroup to ” Neutral” on Jun 7, 2016. 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) closed down -0.75 points or -2.61% at $28.01 with 57,10,233 shares getting traded on Monday. Post opening the session at $28.01, the shares hit an intraday low of $27.74 and an intraday high of $28.35 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.