Rio Tinto Plc (RIO) : 6 analysts are covering Rio Tinto Plc (RIO) and their average rating on the stock is 2.17, which is read as a Buy. 3 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 1, which recommends a Strong Buy affirms that they expect a large upside in the stock from the current levels. 1 more analyst has given the stock a Sell recommendation. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Rio Tinto Plc (RIO) : Currently there are 3 street experts covering Rio Tinto Plc (RIO) stock. The most bullish and bearish price target for the stock is $35 and $29 respectively for the short term. The average price target of all the analysts comes to $32.9. The estimated standard deviation from the target is $3.64.
For the current week, the company shares have a recommendation consensus of Buy. Also, Brokerage firm Jefferies maintains its rating on Rio Tinto Plc (NYSE:RIO). As per the latest information, the brokerage house raises the price target to $35 per share from a prior target of $33. The shares have been rated Buy. The rating by the firm was issued on July 7, 2016.
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 $32.35 and $32.13 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $33.04. The buying momentum continued till the end and the stock did not give up its gains. It closed at $33.02, notching a gain of 0.70% for the day. The total traded volume was 3,624,812 . The stock had closed at $32.79 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.