Rio Tinto (RIO) Got Some Good News


DZ BANK AG analyst DZ BANK upgraded Rio Tinto (RIO) to Buy yesterday. The company’s shares closed last Wednesday at $77.65.

Currently, the analyst consensus on Rio Tinto is a Moderate Buy with an average price target of $95.91, implying a 22.8% upside from current levels. In a report issued on March 18, Societe Generale also upgraded the stock to Buy.

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Rio Tinto’s market cap is currently $125.7B and has a P/E ratio of 12.80. The company has a Price to Book ratio of 2.86.

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Founded in 1873, UK-based Rio Tinto Plc is engaged in the exploration, mining, and processing of mineral resources in over 35 countries. It produces iron ore for steel, aluminium for cars and smart phones, copper for wind turbines, diamonds. It has four product groups, including Iron Ore, Aluminium, Copper and Diamonds, and Energy and Minerals.

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