JP Morgan Upgrades Rio Tinto plc (ADR) to Overweight

Brokerage firm JP Morgan Upgrades its rating on Rio Tinto plc (ADR)(NYSE:RIO). The shares have been rated Overweight. Previously, the analysts had a Neutral rating on the shares. The rating by JP Morgan was issued on Sep 12, 2016.

In a different note, On Sep 8, 2016, RBC Capital said it Upgrades its rating on Rio Tinto plc (ADR). The shares have been rated ‘Outperform’ by the firm. On Aug 23, 2016, Jefferies said it Maintains its rating on Rio Tinto plc (ADR). In the research note, the firm Raises the price-target to $35.00 per share. The shares have been rated ‘Hold’ by the firm. On Jul 7, 2016, Jefferies said it Maintains its rating on Rio Tinto plc (ADR). In the research note, the firm Raises the price-target to $33.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 28, 2016, Morgan Stanley said it Upgrades its rating on Rio Tinto plc (ADR). In the research note, the firm Raises the price-target to $52.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jun 27, 2016, Goldman Sachs said it Upgrades its rating on Rio Tinto plc (ADR). The shares have been rated ‘Neutral’ by the firm.

Rio Tinto plc (ADR) (RIO) made into the market gainers list on Tuesdays trading session with the shares advancing 0.36% or 0.11 points. Due to strong positive momentum, the stock ended at $30.91, which is also near the day’s high of $31. The stock began the session at $30.9 and the volume stood at 21,57,206 shares. The 52-week high of the shares is $40.05 and the 52 week low is $21.885. The company has a current market capitalization of $68,713 M and it has 2,22,30,00,000 shares in outstanding.

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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