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Several investment firms have updated their stock ratings and price targets on shares of Rio Tinto plc (NYSE: RIO) in the last week:

  • Rio Tinto plc was upgraded by analysts at Zacks from an “underperform” rating to a “neutral” rating. They now have a $61.00 price target on the stock. Zacks‘ analyst wrote, “We are upgrading our recommendation on Rio Tinto to Neutral from Underperform based on its strong production volumes for the first half of 2014. The company generated strong production volumes for mined copper, hard coking coal, semi-soft and thermal coal and iron ore. The company, by divesting non-core assets, intends to further increase the production volumes. Recently, Rio Tinto completed the divestiture of its Clermont mine for a sum of $1.015 billion. In 2013, the company reduced its capital expenditures by 26% year over year while plans to continue doing so in the quarters ahead. However, Rio operates in an extremely competitive market along with high market share companies, which makes it all the more difficult for it to cope with the pricing pressures. Moreover, with high investments in assets, a write-down of the same may impact the company.”
  • Rio Tinto plc had its “buy” rating reaffirmed by analysts at Canaccord Genuity.
  • Rio Tinto plc had its “buy” rating reaffirmed by analysts at Beaufort Securities.
  • Rio Tinto plc had its “buy” rating reaffirmed by analysts at Deutsche Bank.
  • Rio Tinto plc had its “outperform” rating reaffirmed by analysts at RBC Capital.

Rio Tinto plc (NYSE:RIO) opened at 56.61 on Wednesday. Rio Tinto plc has a one year low of $45.00 and a one year high of $60.61. The stock has a 50-day moving average of $55.7 and a 200-day moving average of $54.91. The company has a market cap of $104.7 billion and a price-to-earnings ratio of 29.11.

Rio Tinto plc (NYSE:RIO) is an international mining company.

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