Rio Tinto Plc (RIO) : The consensus on Rio Tinto Plc (RIO) based on 5 analyst recommendation on the company stock is 2, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 4 which endorses a Sell on the stock. However, 3 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Rio Tinto Plc (RIO).
Rio Tinto Plc (RIO) : The highest level Rio Tinto Plc (RIO) is projected to reach is $35 for the short term and the lowest estimate is at $25. The consolidated price target from 3 rating analysts who initiate coverage on the stock is $31.07 and the possibility the share price can swing is $5.18.
Rio Tinto Plc (NYSE:RIO): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $30.19 and $29.98 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $30.90. The buying momentum continued till the end and the stock did not give up its gains. It closed at $30.89, notching a gain of 1.28% for the day. The total traded volume was 3,382,046 . The stock had closed at $30.50 on the previous day.
Also, Major Brokerage house, Morgan Stanley upgrades its ratings on Rio Tinto Plc (NYSE:RIO). In the latest research report, Morgan Stanley raises the target price from $52 per share to $55 per share. According to the latest information available, the shares are now rated Overweight by the analysts at the agency. Previously, the analysts had a Equal-weight rating on the shares. The rating by the firm was issued on June 28, 2016. The company shares have dropped -20.09% from its 1 Year high price. On Aug 10, 2015, the shares registered one year high at $45.34 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $29.07 and the 200 Day Moving Average price is recorded at $28.37.
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.