FY2017 EPS Estimates for Rio Tinto PLC Increased by Analyst (RIO)
Rio Tinto PLC (NYSE:RIO) – Stock analysts at Jefferies Group raised their FY2017 EPS estimates for shares of Rio Tinto PLC in a report released on Tuesday. Jefferies Group analyst C. Lafemina now anticipates that the firm will earn $1.97 per share for the year, up from their prior forecast of $1.88. Jefferies Group has a “Hold” rating and a $38.00 price target on the stock.
Other analysts also recently issued reports about the company. Vetr downgraded Rio Tinto PLC from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a research report on Wednesday, July 27th. Investec reiterated a “buy” rating on shares of Rio Tinto PLC in a research report on Wednesday, August 3rd. Morgan Stanley upgraded Rio Tinto PLC from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $52.00 to $55.00 in a research report on Tuesday, June 28th. Argus reiterated a “buy” rating and set a $36.00 target price on shares of Rio Tinto PLC in a research report on Monday, June 27th. Finally, Liberum Capital reiterated a “sell” rating on shares of Rio Tinto PLC in a research report on Wednesday, August 3rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $34.44.
Rio Tinto PLC (NYSE:RIO) traded up 1.960% during trading on Thursday, reaching $32.668. The company had a trading volume of 3,496,735 shares. The firm’s 50 day moving average price is $31.55 and its 200 day moving average price is $30.47. The firm has a market capitalization of $58.76 billion, a PE ratio of 1484.909 and a beta of 1.69. Rio Tinto PLC has a 12-month low of $21.89 and a 12-month high of $40.05.
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Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Rio Tinto PLC during the second quarter valued at about $1,408,000. Calvert Investment Management Inc. purchased a new position in shares of Rio Tinto PLC during the second quarter worth $205,000. Stifel Financial Corp raised its position in shares of Rio Tinto PLC by 173.4% in the second quarter. Stifel Financial Corp now owns 131,032 shares of the mining company’s stock worth $4,103,000 after buying an additional 83,099 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in shares of Rio Tinto PLC during the second quarter worth $249,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in shares of Rio Tinto PLC during the second quarter worth $2,717,000. 6.74% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently declared a dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Friday, August 12th will be paid 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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