Rio Tinto PLC (NYSE:RIO) gapped up before the market opened on Wednesday . The stock had previously closed at $30.65, but opened at $30.91. Rio Tinto PLC shares last traded at $31.48, with a volume of 1,753,056 shares traded.

A number of equities research analysts have recently commented on RIO shares. Argus reaffirmed a “buy” rating and set a $36.00 price target on shares of Rio Tinto PLC in a research report on Tuesday, August 30th. RBC Capital Markets raised Rio Tinto PLC from a “sector perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research report on Thursday, September 8th. Investec reissued a “buy” rating on shares of Rio Tinto PLC in a research report on Wednesday, August 3rd. Jefferies Group reissued a “buy” rating on shares of Rio Tinto PLC in a research report on Thursday, July 14th. Finally, Axiom Securities reissued a “sell” rating on shares of Rio Tinto PLC in a research report on Tuesday, August 30th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. Rio Tinto PLC presently has a consensus rating of “Hold” and a consensus price target of $34.44.

The company has a 50-day moving average price of $31.55 and a 200-day moving average price of $30.47. The firm has a market capitalization of $57.63 billion, a P/E ratio of 1456.36 and a beta of 1.69.

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

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC increased its stake in shares of Rio Tinto PLC by 29.9% in the second quarter. Signaturefd LLC now owns 3,285 shares of the mining company’s stock worth $103,000 after buying an additional 757 shares during the last quarter. Huntington Asset Advisors Inc. purchased a new stake in Rio Tinto PLC during the first quarter worth about $110,000. Carroll Financial Associates Inc. increased its stake in Rio Tinto PLC by 2.3% in the second quarter. Carroll Financial Associates Inc. now owns 4,442 shares of the mining company’s stock worth $139,000 after buying an additional 100 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Rio Tinto PLC by 0.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,684 shares of the mining company’s stock worth $188,000 after buying an additional 59 shares in the last quarter. Finally, NEXT Financial Group Inc increased its stake in Rio Tinto PLC by 979.3% in the second quarter. NEXT Financial Group Inc now owns 6,044 shares of the mining company’s stock worth $189,000 after buying an additional 5,484 shares in the last quarter. 6.74% of the stock is owned by institutional investors.

About Rio Tinto PLC

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.

5 Day Chart for NYSE:RIO

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