Can Rio Tinto plc (RIO)’s Tomorrow be Different? The Stock Just Broke Its High

January 11, 2018 - By Marie Mckinney

The stock of Rio Tinto plc (NYSE:RIO) hit a new 52-week high and has $59.46 target or 4.00 % above today’s $57.17 share price. The 6 months bullish chart indicates low risk for the $94.70B company. The 1-year high was reported on Jan, 11 by Barchart.com. If the $59.46 price target is reached, the company will be worth $3.79 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.94% or $1.09 during the last trading session, reaching $57.17. About 1.65M shares traded. Rio Tinto plc (NYSE:RIO) has risen 43.73% since January 11, 2017 and is uptrending. It has outperformed by 27.03% the S&P500.

Rio Tinto plc (NYSE:RIO) Ratings Coverage

Among 21 analysts covering Rio Tinto (NYSE:RIO), 11 have Buy rating, 3 Sell and 7 Hold. Therefore 52% are positive. Rio Tinto had 47 analyst reports since August 5, 2015 according to SRatingsIntel. Liberum Capital upgraded Rio Tinto plc (NYSE:RIO) on Wednesday, August 5 to “Hold” rating. The firm earned “Neutral” rating on Monday, December 5 by Citigroup. The firm has “Neutral” rating given on Monday, June 27 by Goldman Sachs. Cowen & Co maintained it with “Market Perform” rating and $42 target in Thursday, November 10 report. The company was maintained on Wednesday, August 2 by Cowen & Co. The stock of Rio Tinto plc (NYSE:RIO) earned “Hold” rating by Citigroup on Tuesday, October 17. Liberium downgraded the shares of RIO in report on Thursday, October 29 to “Sell” rating. Credit Suisse upgraded the shares of RIO in report on Wednesday, December 7 to “Outperform” rating. As per Wednesday, January 27, the company rating was maintained by Cowen & Co. The rating was maintained by Cowen & Co on Thursday, July 13 with “Hold”.

More important recent Rio Tinto plc (NYSE:RIO) news were published by: Livetradingnews.com which released: “Rio Tinto plc (ADR) (NYSE:RIO) HEFFX Highlights” on July 04, 2017, also Marketwatch.com published article titled: “Rio Tinto hikes buyback plans as profit jumps”, Marketwatch.com published: “Rio Tinto cuts guidance on mined copper” on October 17, 2017. More interesting news about Rio Tinto plc (NYSE:RIO) was released by: Businesswire.com and their article: “Hagens Berman Sobol Shapiro LLP Files Securities Class Action Against Rio …” with publication date: October 23, 2017.

Rio Tinto plc, a mining and metals company, finds, mines, processes, and markets mineral resources. The company has market cap of $94.70 billion. The firm mines and produces aluminum products, including bauxite, alumina, and aluminum; copper, gold, silver, and molybdenum, as well as nickel; diamonds, titanium dioxide feedstocks, borates, and salt, as well as high purity iron, steel billets, metal powders, zircon, and rutile; uranium; iron ore; and thermal coal, and coking or metallurgical coal. It has a 16.67 P/E ratio. The Company’s products also comprise others, such as sulphuric acid, rhenium, lead carbonate, and selenium.

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