Rio Tinto plc (RIO.L) 17-10-19 A trading opportunity for you?
Rio Tinto plc (RIO.L) has dropped from highs of 4976.5p. Will it continue, or could you pick up a bargain?
- Now trading at 3966p (at time of writing). A return to period highs would mean a rise of 25%.
- This shares are amongst the most significant fallers in the period.
- Markets constantly over-react to adverse news. Traders should consider whether the fall is reasonable, or is this another over-reaction?
- Bargain hunters should be mindful of the underlying fundamentals.
- Shares -20% from 12-month highs; +12% from 12 month lows.
Latest News
16 Oct: Credit Suisse has downgraded its rating on Rio Tinto (RIO) to underperform (from neutral) and reduced the target price to 3820p (from 4340p).
16 Oct: Rio Tinto stated that it had produced 6% more iron ore in Q3, though it reduced its annual forecasts for production of bauxite and alumina.
11 Oct: Jefferies International has downgraded its rating on Rio Tinto (RIO) to hold (from buy) and reduced the target price to 4700p (from 5500p).
10 Oct: Barclays Capital reiterates its underweight rating on Rio Tinto (RIO) and reduced the target price to 3700p (from 4000p).
Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires
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