Citigroup Upgrades Rio Tinto plc (ADR) to Neutral

Brokerage firm Citigroup Upgrades its rating on Rio Tinto plc (ADR)(NYSE:RIO). The shares have been rated Neutral. Previously, the analysts had a Sell rating on the shares. The rating by Citigroup was issued on Jun 7, 2016.

In a different note, On Apr 18, 2016, Citigroup said it Downgrades its rating on Rio Tinto plc (ADR). The shares have been rated ‘Sell’ by the firm. On Mar 31, 2016, Axiom said it Downgrades its rating on Rio Tinto plc (ADR). In the research note, the firm Lowers the price-target to $19.00 per share. The shares have been rated ‘Sell’ by the firm. Argus Research said it Initiates Coverage on Rio Tinto plc (ADR), according to a research note issued on Mar 30, 2016. The shares have been rated ‘Buy’ by the firm. On Mar 14, 2016, Morgan Stanley said it Downgrades its rating on Rio Tinto plc (ADR). The shares have been rated ‘Equal-weight’ by the firm.

Rio Tinto plc (ADR) (RIO) shares turned negative on Fridays trading session with the shares closing down -0.81 points or -2.82% at a volume of 54,04,508. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $28.46. The peak price level was also seen at $28.46 while the days lowest was $27.8. Finally the shares closed at $27.94. The 52-week high of the shares is $44.44 while the 52-week low is $21.885. According to the latest information available, the market cap of the company is $50,534 M.

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.

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