The stock of Rio Tinto plc (LON:RIO) is a huge mover today! The stock decreased 0.99% or GBX 30.34 on November 23, hitting GBX 3042.66. About 4.34 million shares traded hands. Rio Tinto plc (LON:RIO) has risen 37.34% since April 25, 2016 and is uptrending. It has outperformed by 32.01% the S&P500.
The move comes after 7 months positive chart setup for the GBX 56.67 billion company. It was reported on Nov, 23 by Barchart.com. We have GBX 3316.50 PT which if reached, will make LON:RIO worth GBX 5.10B more.
Rio Tinto plc (LON:RIO) Ratings Coverage
Out of 29 analysts covering Rio Tinto PLC (LON:RIO), 19 rate it a “Buy”, 3 “Sell”, while 7 “Hold”. This means 66% are positive. GBX 4000 is the highest target while GBX 3 is the lowest. The GBX 2728.04 average target is -10.34% below today’s (GBX 3042.66) stock price. Rio Tinto PLC has been the topic of 363 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained the shares of RIO in a report on Monday, November 14 with “Buy” rating. The rating was maintained by Beaufort Securities with “Buy” on Monday, November 30. JP Morgan maintained Rio Tinto plc (LON:RIO) rating on Wednesday, January 20. JP Morgan has “Overweight” rating and GBX 1700 price target. Deutsche Bank maintained Rio Tinto plc (LON:RIO) rating on Wednesday, September 30. Deutsche Bank has “Buy” rating and GBX 3358 price target. The rating was maintained by Jefferies on Monday, September 14 with “Buy”. The rating was maintained by BNP Paribas on Thursday, October 6 with “Neutral”. On Friday, October 16 the stock rating was maintained by BMO Capital Markets with “Outperform”. The company was maintained on Thursday, June 30 by Credit Suisse. Canaccord Genuity maintained Rio Tinto plc (LON:RIO) on Thursday, August 6 with “Buy” rating. The rating was maintained by Deutsche Bank on Thursday, May 5 with “Buy”.
More recent Rio Tinto plc (LON:RIO) news were published by: Wsj.com which released: “Rio Tinto’s West African Bet Comes Back to Haunt It” on November 17, 2016. Also Prnewswire.com published the news titled: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” on November 16, 2016. Marketwatch.com‘s news article titled: “Rio Tinto to sell Scottish aluminum assets” with publication date: November 23, 2016 was also an interesting one.
Rio Tinto plc is a mining company. The Firm focuses on finding, mining, processing and marketing the Earth’s mineral resources. The company has a market cap of 56.67 billion GBP. The Company’s divisions include aluminum, copper and coal, diamonds and minerals, and iron ore. It has a 1483.5 P/E ratio. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.
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