In a report released today, Paul Hissey from RBC Capital downgraded Rio Tinto (RIO) to Sell. The company’s shares closed last Monday at $54.27.
According to TipRanks.com, Hissey is a 2-star analyst with an average return of 2.0% and a 45.5% success rate. Hissey covers the Basic Materials sector, focusing on stocks such as Northern Star Resources, Fortescue Metals Group, and Independence Group NL.
Currently, the analyst consensus on Rio Tinto is a Hold with an average price target of $84.25.
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The company has a one-year high of $64.02 and a one-year low of $47.88. Currently, Rio Tinto has an average volume of 1.33M.
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Rio Tinto Plc engages in the exploration, mining, and processing of mineral resources. It operates through the following business segments: Iron Ore, Aluminium, Copper and Diamonds, Energy and Minerals, and Other Operations. The Iron Ore segment supplies global seaborne iron ore trade. The Aluminium segment produces bauxite, alumina and primary aluminum.
