Citigroup downgraded Rio Tinto (NYSE:RIO) from Neutral to Sell in a report released today.
- Updated: October 12, 2016
Citigroup has downgraded Rio Tinto (NYSE:RIO) from Neutral to Sell in a statement released on 10/12/2016.
Boasting a price of $32.58, Rio Tinto (NYSE:RIO) traded 0.71% higher on the day. The last stock close price is up 6.17% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. The company has recorded a 50-day moving average of $31.85 and a 200-day moving average of $30.90. 5,018,931 shares of Rio Tinto exchanged hands, up from an avg. trading volume of 3,638,720
Recent Performance Chart
Rio Tinto has a 52 week low of $21.89 and a 52 week high of $39.37 with a P/E ratio of 1,491.36 The company’s total market value is presently $0.
A total of 4 firms have issued a report on the stock. Three equity analysts rating the company a strong buy, zero brokerages rating the company a buy, one broker rating the stock a hold, 1 brokerage rating the stock a underperform, and finally 0 firms rating the stock a sell with a consensus target price of $34.15.
General Information About Rio Tinto (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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