Rio Tinto PLC (RIO) Given a $41.00 Price Target by Jefferies Group Analysts
Rio Tinto PLC (NYSE:RIO) has been given a $41.00 target price by Jefferies Group in a report released on Sunday. The brokerage presently has a a “buy” rating on the mining company’s stock. Jefferies Group’s price target points to a potential upside of 29.05% from the company’s current price.
Several other equities analysts also recently weighed in on RIO. Sanford C. Bernstein restated an “outperform” rating on shares of Rio Tinto PLC in a research report on Thursday, September 22nd. Axiom Securities reiterated a “sell” rating on shares of Rio Tinto PLC in a research report on Tuesday, August 30th. Citigroup Inc. downgraded Rio Tinto PLC from a “neutral” rating to a “sell” rating in a research report on Wednesday, October 12th. RBC Capital Markets upgraded Rio Tinto PLC from a “sector perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research report on Thursday, September 8th. Finally, JPMorgan Chase & Co. upgraded Rio Tinto PLC from a “neutral” rating to an “overweight” rating in a research report on Monday, September 12th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Rio Tinto PLC presently has a consensus rating of “Hold” and a consensus price target of $34.78.
Rio Tinto PLC (NYSE:RIO) traded down 0.09% on Friday, hitting $31.74. The stock had a trading volume of 1,959,955 shares. Rio Tinto PLC has a 12 month low of $21.89 and a 12 month high of $38.66. The stock has a market cap of $57.09 billion, a P/E ratio of 1442.73 and a beta of 1.47. The company’s 50 day moving average is $31.88 and its 200-day moving average is $30.95.
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The firm also recently announced a dividend, which was paid on Thursday, September 22nd. Shareholders 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.
A number of institutional investors have recently added to or reduced their stakes in the company. Charter Trust Co. acquired a new position in Rio Tinto PLC during the third quarter valued at about $201,000. Community Bank N.A. boosted its position in Rio Tinto PLC by 3.2% in the third quarter. Community Bank N.A. now owns 6,404 shares of the mining company’s stock valued at $214,000 after buying an additional 200 shares during the last quarter. Capstone Asset Management Co. boosted its position in Rio Tinto PLC by 1.7% in the third quarter. Capstone Asset Management Co. now owns 67,651 shares of the mining company’s stock valued at $2,260,000 after buying an additional 1,110 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Rio Tinto PLC during the third quarter valued at about $538,000. Finally, Creative Planning boosted its position in Rio Tinto PLC by 16.3% in the third quarter. Creative Planning now owns 17,740 shares of the mining company’s stock valued at $593,000 after buying an additional 2,480 shares during the last quarter. Institutional investors own 6.72% 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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