Rio Tinto PLC (RIO) Given Average Rating of “Hold” by Brokerages
Shares of Rio Tinto PLC (NYSE:RIO) have received a consensus rating of “Hold” from the twenty-five ratings firms that are presently covering the company. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $37.00.
A number of equities research analysts recently weighed in on the company. Cowen and Company reaffirmed a “market perform” rating and set a $35.00 price objective on shares of Rio Tinto PLC in a research report on Thursday, September 15th. Liberum Capital restated a “sell” rating on shares of Rio Tinto PLC in a research note on Wednesday, August 3rd. Deutsche Bank AG reiterated a “buy” rating on shares of Rio Tinto PLC in a research report on Wednesday, September 7th. Vetr cut Rio Tinto PLC from a “buy” rating to a “hold” rating and set a $34.00 price target for the company. in a research report on Wednesday, July 13th. Finally, Zacks Investment Research upgraded Rio Tinto PLC from a “sell” rating to a “hold” rating and set a $36.00 price target for the company in a research report on Friday, July 8th.
Hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Rio Tinto PLC by 7,072.0% in the first quarter. Wellington Management Group LLP now owns 1,427,805 shares of the mining company’s stock worth $40,363,000 after buying an additional 1,407,897 shares during the last quarter. ING Groep NV raised its stake in shares of Rio Tinto PLC by 94.6% in the first quarter. ING Groep NV now owns 30,550 shares of the mining company’s stock worth $864,000 after buying an additional 14,850 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Rio Tinto PLC by 104.1% in the second quarter. Bank of New York Mellon Corp now owns 202,045 shares of the mining company’s stock worth $6,323,000 after buying an additional 103,030 shares during the last quarter. Creative Planning raised its stake in shares of Rio Tinto PLC by 21.4% in the second quarter. Creative Planning now owns 15,260 shares of the mining company’s stock worth $478,000 after buying an additional 2,685 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Rio Tinto PLC during the first quarter worth about $18,376,000. 6.74% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Rio Tinto PLC (NYSE:RIO) traded down 3.62% during trading on Tuesday, reaching $32.49. The company’s stock had a trading volume of 2,950,363 shares. The stock has a market capitalization of $58.44 billion, a PE ratio of 1476.82 and a beta of 1.47. The firm’s 50-day moving average is $31.82 and its 200-day moving average is $30.89. Rio Tinto PLC has a 12-month low of $21.89 and a 12-month high of $39.37.
The firm also recently announced a dividend, which was paid on Thursday, September 22nd. Stockholders of record on Friday, August 12th were given a dividend of $0.45 per share. The ex-dividend date was Wednesday, August 10th.
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.
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