Short Term Price Target on Rio Tinto Plc (RIO)

Rio Tinto Plc (NYSE:RIO) : The highest level Rio Tinto Plc (NYSE: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.

Shares of Rio Tinto plc rose by 0.68% in the last five trading days and 13.74% for the last 4 weeks. Rio Tinto plc is up 11.11% in the last 3-month period. Year-to-Date the stock performance stands at 11.77%. Also, Equity analysts at the Brokerage firm Citigroup upgrades its rating on Rio Tinto Plc (NYSE:RIO). The rating major has initiated the coverage with neutral rating on the shares. 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) : 3 brokerage houses believe that Rio Tinto Plc (NYSE:RIO) is a Strong Buy at current levels. 1 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Rio Tinto Plc (NYSE:RIO). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 5 Wall Street Analysts endorse the stock as a Buy with a rating of 2.

Rio Tinto Plc (NYSE:RIO): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $30.62 and $30.25 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $31.31. The buying momentum continued till the end and the stock did not give up its gains. It closed at $31.30, notching a gain of 4.51% for the day. The total traded volume was 7,483,800 . The stock had closed at $29.95 on the previous day.

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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