Rio Tinto Downgraded by Bank of America to “Neutral” (RIO)
Rio Tinto (NYSE:RIO) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Thursday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on RIO. Analysts at Goldman Sachs reiterated a “conviction sell” rating on shares of Rio Tinto in a research note on Wednesday. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Rio Tinto in a research note on Wednesday. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Rio Tinto in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $64.09.
Rio Tinto (NYSE:RIO) traded up 0.07% during mid-day trading on Thursday, hitting $58.03. The stock had a trading volume of 3,364,774 shares. Rio Tinto has a one year low of $39.14 and a one year high of $58.36. The stock has a 50-day moving average of $53.91 and a 200-day moving average of $51.12. The company’s market cap is $107.2 billion.
Rio Tinto plc (NYSE:RIO) is an international mining company.
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