FY2016 Earnings Estimate for Rio Tinto PLC Issued By Jefferies Group (RIO)
Rio Tinto PLC (NYSE:RIO) – Jefferies Group raised their FY2016 earnings per share (EPS) estimates for shares of Rio Tinto PLC in a research report issued to clients and investors on Friday. Jefferies Group analyst C. Lafemina now anticipates that the firm will earn $2.17 per share for the year, up from their prior forecast of $1.99. Jefferies Group has a “Hold” rating and a $38.00 price objective on the stock. Jefferies Group also issued estimates for Rio Tinto PLC’s FY2018 earnings at $2.62 EPS.
Other equities research analysts also recently issued reports about the stock. Vetr downgraded shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating and set a $34.00 price objective for the company. in a research note on Thursday, June 30th. Deutsche Bank AG restated a “buy” rating on shares of Rio Tinto PLC in a research note on Wednesday, June 22nd. JPMorgan Chase & Co. restated a “buy” rating on shares of Rio Tinto PLC in a research note on Wednesday, June 22nd. Argus restated a “buy” rating and issued a $36.00 target price on shares of Rio Tinto PLC in a research note on Monday, June 27th. Finally, Investec restated a “buy” rating on shares of Rio Tinto PLC in a research note on Wednesday, August 3rd. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $34.44.
Rio Tinto PLC (NYSE:RIO) opened at 31.77 on Monday. Rio Tinto PLC has a 1-year low of $21.89 and a 1-year high of $38.66. The firm has a 50-day moving average of $31.88 and a 200-day moving average of $30.95. The firm has a market capitalization of $57.15 billion, a price-to-earnings ratio of 1444.09 and a beta of 1.47.
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The firm also recently disclosed 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 of this dividend was Wednesday, August 10th.
Several institutional investors have recently bought and sold shares of the stock. Creative Planning raised its position in Rio Tinto PLC by 21.4% in the second quarter. Creative Planning now owns 15,260 shares of the mining company’s stock valued at $478,000 after buying an additional 2,685 shares during the period. NEXT Financial Group Inc raised its position 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 period. LPL Financial LLC raised its position in Rio Tinto PLC by 20.8% in the first quarter. LPL Financial LLC now owns 46,173 shares of the mining company’s stock valued at $1,261,000 after buying an additional 7,964 shares during the period. Springbok Capital Management LLC acquired a new position in Rio Tinto PLC during the first quarter valued at $935,000. Finally, Envestnet Asset Management Inc. raised its position in Rio Tinto PLC by 25.9% in the first quarter. Envestnet Asset Management Inc. now owns 85,598 shares of the mining company’s stock valued at $2,420,000 after buying an additional 17,592 shares during the period. Institutional investors own 6.74% of the company’s stock.
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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