Rio Tinto PLC (NYSE:RIO) – Equities researchers at Jefferies Group boosted their FY2016 EPS estimates for shares of Rio Tinto PLC in a note issued to investors on Tuesday. Jefferies Group analyst C. Lafemina now forecasts that the firm will post earnings of $1.99 per share for the year, up from their previous estimate of $1.94. Jefferies Group currently has a “Hold” rating and a $38.00 price target on the stock. Jefferies Group also issued estimates for Rio Tinto PLC’s FY2018 earnings at $2.36 EPS.

Several other brokerages have also commented on RIO. Deutsche Bank AG reissued a “buy” rating on shares of Rio Tinto PLC in a report on Friday, July 15th. Vetr lowered Rio Tinto PLC from a “buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a report on Wednesday, July 27th. Investec reissued a “buy” rating on shares of Rio Tinto PLC in a report on Wednesday, August 3rd. Liberum Capital reissued a “sell” rating on shares of Rio Tinto PLC in a report on Wednesday, August 3rd. Finally, Beaufort Securities reissued a “hold” rating on shares of Rio Tinto PLC in a report on Thursday, August 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $34.44.

Shares of Rio Tinto PLC (NYSE:RIO) traded up 1.59% during trading on Wednesday, reaching $31.40. The company’s stock had a trading volume of 1,679,762 shares. The stock has a 50 day moving average of $31.57 and a 200-day moving average of $30.46. The company has a market capitalization of $56.48 billion, a PE ratio of 1427.27 and a beta of 1.69. Rio Tinto PLC has a 1-year low of $21.89 and a 1-year high of $40.05.

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Large investors have recently bought and sold shares of the stock. State Street Corp increased its stake in Rio Tinto PLC by 47.3% in the first quarter. State Street Corp now owns 161,036 shares of the mining company’s stock valued at $4,553,000 after buying an additional 51,745 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Rio Tinto PLC by 19.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,569 shares of the mining company’s stock valued at $242,000 after buying an additional 1,369 shares in the last quarter. ING Groep NV increased its stake in Rio Tinto PLC by 94.6% in the first quarter. ING Groep NV now owns 30,550 shares of the mining company’s stock valued at $864,000 after buying an additional 14,850 shares in the last quarter. Huntington Asset Advisors Inc. purchased a new stake in Rio Tinto PLC during the first quarter valued at about $110,000. Finally, Bessemer Group Inc. increased its stake in Rio Tinto PLC by 85.1% in the first quarter. Bessemer Group Inc. now owns 23,287 shares of the mining company’s stock valued at $659,000 after buying an additional 10,705 shares in the last quarter. Hedge funds and other institutional investors own 6.74% of the company’s stock.

The firm also recently announced a dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Friday, August 12th will be given a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, August 10th.

Rio Tinto PLC Company Profile

Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth’s mineral resources. The Company’s segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.

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