Just How Positive is HSBC on Rio Tinto Plc Common Stock (NYSE:RIO) Following Their Upgrade?

April 19, 2018 - By reb123z

Rio Tinto plc (NYSE:RIO) Logo

Rio Tinto Plc Common Stock (NYSE:RIO) Stock Upgrade

HSBC has upgraded shares of Rio Tinto Plc Common Stock (NYSE:RIO) stock to a “Buy” in analysts report sent to investors and clients today. RIO’s past rating was only a “Hold”.

Rio Tinto plc (NYSE:RIO) Ratings Coverage

Among 8 analysts covering Rio Tinto Plc (NYSE:RIO), 2 have Buy rating, 1 Sell and 5 Hold. Therefore 25% are positive. Rio Tinto Plc has $75.0 highest and $41 lowest target. $61.20’s average target is 7.82% above currents $56.76 stock price. Rio Tinto Plc had 9 analyst reports since October 23, 2017 according to SRatingsIntel. The rating was downgraded by RBC Capital Markets to “Hold” on Monday, October 23. The firm has “Buy” rating by Jefferies given on Monday, April 9. The firm has “Hold” rating given on Friday, April 6 by BNP Paribas. The stock of Rio Tinto plc (NYSE:RIO) has “Hold” rating given on Monday, November 13 by J.P. Morgan. As per Thursday, February 15, the company rating was maintained by Jefferies. Cowen & Co maintained Rio Tinto plc (NYSE:RIO) on Thursday, January 18 with “Hold” rating. The firm has “Neutral” rating by JP Morgan given on Monday, November 13.

The stock decreased 0.16% or $0.09 during the last trading session, reaching $56.76. About 503,355 shares traded. Rio Tinto plc (NYSE:RIO) has risen 26.00% since April 19, 2017 and is uptrending. It has outperformed by 14.45% the S&P500.

Rio Tinto plc, a mining and metals company, finds, mines, processes, and markets mineral resources. The company has market cap of $95.95 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 11.66 P/E ratio. The Company’s products also comprise others, such as sulphuric acid, rhenium, lead carbonate, and selenium.

Rio Tinto plc (NYSE:RIO) Ratings Chart

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