Morgan Stanley Upgrades Rio Tinto plc (ADR) to Overweight with Price Target $55.00

Brokerage firm Morgan Stanley Upgrades its rating on Rio Tinto plc (ADR)(NYSE:RIO). In a research note issued to the investors, the brokerage major Raises the price-target to $55.00 per share. The shares have been rated Overweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Morgan Stanley was issued on Jun 28, 2016.

In a different note, 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. On Jun 7, 2016, Citigroup said it Upgrades its rating on Rio Tinto plc (ADR). The shares have been rated ‘Neutral’ by the firm. 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.

Rio Tinto plc (ADR) (RIO) made into the market gainers list on Fridays trading session with the shares advancing 0.86% or 0.27 points. Due to strong positive momentum, the stock ended at $31.57, which is also near the day’s high of $31.67. The stock began the session at $31.08 and the volume stood at 41,42,644 shares. The 52-week high of the shares is $41.685 and the 52 week low is $21.885. The company has a current market capitalization of $57,100 M and it has 1,80,86,78,600 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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