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Citigroup downgraded Rio Tinto (NYSE:RIO) from Buy to Neutral in a report released today.

Citigroup has downgraded Rio Tinto (NYSE:RIO) from Buy to Neutral in a report released on 10/17/2017.

Yesterday Rio Tinto (NYSE:RIO) traded -0.70% lower at $50.02. The company’s 50-day moving average is $48.28 and its 200-day moving average is $43.63. The last stock close price is up 13.84% from the 200-day moving average, compared to the S&P 500 which has increased 0.03% over the same time. 682,998 shares of the stock were exchanged, down from an average trading volume of 3,001,440

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Rio Tinto (NYSE:RIO)

Rio Tinto has a 52 week low of $31.67 and a 52 week high of $50.13 with a P/E ratio of 14.48 The company’s market cap is currently $0.

In addition to Citigroup reporting its target price, a total of 4 firms have reported on the stock. The consensus target price is $34.15 with 3 firms rating the stock a strong buy, 0 firms rating the stock a buy, 1 firm rating the stock a hold, 1 firm rating the stock a underperform, and finally 0 firms rating the stock a sell.

About Rio Tinto (NYSE:RIO)

Rio Tinto plc is a mining and metals company. The Company's business is finding, mining and processing mineral resources. The Company's segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade. Its Iron Ore product operations are located in the Pilbara region of Western Australia. The Aluminium business includes bauxite mines, alumina refineries and aluminum smelters. Its bauxite mines are located in Australia, Brazil and Guinea. The Copper & Diamonds segment has managed operations in Australia, Canada, Mongolia and the United States, and non-managed operations in Chile and Indonesia. The Energy & Minerals segment consists of mining, refining and marketing operations in over 10 countries, across six sectors: borates, coal, iron ore concentrate and pellets, salt, titanium dioxide and uranium.

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