Rio Tinto PLC (RIO) Downgraded by Citigroup Inc.
Rio Tinto PLC (NYSE:RIO) was downgraded by equities researchers at Citigroup Inc. from a “neutral” rating to a “sell” rating in a note issued to investors on Wednesday, The Fly reports.
A number of other research analysts have also recently weighed in on RIO. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Rio Tinto PLC in a research report on Wednesday, June 22nd. Deutsche Bank AG reiterated a “buy” rating on shares of Rio Tinto PLC in a research note on Wednesday, June 22nd. Vetr lowered shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating and set a $34.00 price objective on the stock. in a research note on Thursday, June 23rd. Goldman Sachs Group Inc. upgraded shares of Rio Tinto PLC from a “sell” rating to a “neutral” rating in a research note on Monday, June 27th. Finally, Argus reiterated a “buy” rating and set a $36.00 price objective on shares of Rio Tinto PLC in a research note on Monday, June 27th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $34.44.
Shares of Rio Tinto PLC (NYSE:RIO) traded up 0.660% during mid-day trading on Wednesday, reaching $32.795. 4,612,943 shares of the company were exchanged. The company’s 50-day moving average is $31.85 and its 200 day moving average is $30.90. Rio Tinto PLC has a 12 month low of $21.89 and a 12 month high of $39.37. The firm has a market capitalization of $58.99 billion, a price-to-earnings ratio of 1490.682 and a beta of 1.47.
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The business also recently disclosed a dividend, which was paid on Thursday, September 22nd. Investors of record on Friday, August 12th were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, August 10th.
Large investors have recently bought and sold shares of the company. Signaturefd LLC increased its stake in Rio Tinto PLC by 29.9% in the second quarter. Signaturefd LLC now owns 3,285 shares of the mining company’s stock valued at $103,000 after buying an additional 757 shares during the last quarter. Huntington Asset Advisors Inc. bought a new stake in Rio Tinto PLC during the first quarter valued at $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 valued at $139,000 after buying an additional 100 shares during the last quarter. 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 valued at $189,000 after buying an additional 5,484 shares during the last quarter. Finally, Calvert Investment Management Inc. bought a new stake in Rio Tinto PLC during the second quarter valued at $205,000. 6.74% of the stock is owned by institutional investors and hedge funds.
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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