Rio Tinto Plc (RIO) : 3 brokerage houses believe that Rio Tinto Plc (RIO) is a Strong Buy at current levels. 2 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Rio Tinto Plc (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 6 Wall Street Analysts endorse the stock as a Buy with a rating of 2.17.
Rio Tinto Plc (RIO) has been rated by 3 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $38 and the lowest price target forecast is $32. The average forecast of all the analysts is $34.83 and the expected standard deviation is $3.25.
For the current week, the company shares have a recommendation consensus of Buy. Also, Jefferies maintains its view on Rio Tinto Plc (NYSE:RIO) according to the research report released by the firm to its investors. The shares have now been rated Hold by the stock experts at the ratings house. Jefferies raises the price target from $35 per share to $38 per share on Rio Tinto Plc. The rating by the firm was issued on August 23, 2016.
Rio Tinto Plc (NYSE:RIO): stock was range-bound between the intraday low of $30.75 and the intraday high of $31.34 after having opened at $31.14 on Wednesdays session. The stock finally closed in the red at $31.14, a loss of -1.71%. The stock remained in the red for the whole trading day. The total traded volume was 3,176,403 shares. The stock failed to cross $31.34 in Wednesdays trading. The stocks closing price on Thursday was $31.58.
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.