Rio Tinto Plc (RIO) has risen sharply, recording gains of 9.01% in the past 4 weeks. However, the stock has corrected -4.6% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2.11% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Rio Tinto Plc (NYSE:RIO): The stock opened at $31.37 on Friday but the bulls could not build on the opening and the stock topped out at $31.43 for the day. The stock traded down to $31.00 during the day, due to lack of any buying support eventually closed down at $31.35 with a loss of -0.70% for the day. The stock had closed at $31.57 on the previous day. The total traded volume was 1,828,316 shares.
The stock has recorded a 20-day Moving Average of 0.44% and the 50-Day Moving Average is 5.34%. Rio Tinto plc has dropped 6.59% during the last 3-month period . Year-to-Date the stock performance stands at 11.95%.
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.