CIBC World Markets upgraded Rio Tinto PLC (ADR) (NYSE:RIO) from Sector Underperform to Sector Perform in a statement released earlier today.
- Updated: September 29, 2016
CIBC World Markets has upgraded Rio Tinto PLC (ADR) (NYSE:RIO) from Sector Underperform to Sector Perform in a report released on 09/29/2016.
Boasting a price of $33.92, Rio Tinto PLC (ADR) (NYSE:RIO) traded 1.01% higher on the day. The last stock price is up 11.43% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the date range. RIO has recorded a 50-day moving average of $31.51 and a two hundred day average of $30.58. Trade Volume was down over the average, with 1,821,081 shares of RIO changing hands under the typical 3,780,230
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Rio Tinto PLC (ADR) has a 52 week low of $21.89 and a 52 week high of $40.05 with a price-earnings ratio of 1,549.09 RIO’s total market value is presently $0.
A total of 4 firms have issued a report on the stock. 3 brokerages rating the stock a strong buy, zero brokerages rating the stock a buy, 1 equity analyst rating the company a hold, one firm rating the stock a underperform, and finally zero analysts rating the company a sell with a 12-month target of $34.15.
Brief Synopsis About Rio Tinto PLC (ADR) (NYSE:RIO)
Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth's mineral resources. The Company's segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company's aluminum business includes bauxite mines, alumina refineries and aluminum smelters. The Company's copper and coal business includes approximately four copper operating assets, including in the United States, Mongolia, Chile and Indonesia, and over six coal operations in Australia and South Africa, as well as development projects. The Company's diamonds and minerals businesses include mining, refining and marketing operations across approximately five sectors. The Company operates an iron ore portfolio, supplying the seaborne iron ore trade across the world. Its iron ore mines are located in Australia and Canada.
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