Rio Tinto plc (NYSE:RIO) was upgraded by research analysts at Citigroup Inc from a “neutral” rating to a “buy” rating in a report released on Thursday, The Fly reports.

Several other research analysts have also weighed in on RIO. Jefferies Group LLC set a $46.00 target price on shares of Rio Tinto plc and gave the stock a “buy” rating in a research note on Sunday, January 8th. HSBC Holdings plc reaffirmed a “buy” rating on shares of Rio Tinto plc in a research note on Wednesday, January 18th. Sanford C. Bernstein reaffirmed an “overweight” rating on shares of Rio Tinto plc in a research note on Saturday, January 14th. Morgan Stanley reaffirmed a “buy” rating on shares of Rio Tinto plc in a research note on Saturday, January 21st. Finally, Barclays PLC reaffirmed a “buy” rating on shares of Rio Tinto plc in a research note on Tuesday, January 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Rio Tinto plc has a consensus rating of “Buy” and an average price target of $41.86.

Analyst Recommendations for Rio Tinto plc (NYSE:RIO)

Rio Tinto plc (NYSE:RIO) opened at 38.52 on Thursday. The stock has a market capitalization of $69.30 billion, a PE ratio of 15.09 and a beta of 1.19. The company’s 50-day moving average is $40.82 and its 200 day moving average is $39.60. Rio Tinto plc has a 1-year low of $26.95 and a 1-year high of $47.11.

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The company also recently announced a semiannual dividend, which was paid on Thursday, April 6th. Investors of record on Friday, February 24th were issued a $1.2582 dividend. This is a boost from Rio Tinto plc’s previous semiannual dividend of $0.96. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a yield of 5.54%.

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A number of hedge funds have recently modified their holdings of RIO. CWA Asset Management Group LLC boosted its stake in shares of Rio Tinto plc by 0.3% in the fourth quarter. CWA Asset Management Group LLC now owns 7,795 shares of the mining company’s stock valued at $300,000 after buying an additional 25 shares during the period. Boston Advisors LLC boosted its stake in shares of Rio Tinto plc by 0.5% in the third quarter. Boston Advisors LLC now owns 8,530 shares of the mining company’s stock valued at $285,000 after buying an additional 40 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Rio Tinto plc by 0.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,684 shares of the mining company’s stock valued at $188,000 after buying an additional 59 shares during the period. Bollard Group LLC boosted its stake in shares of Rio Tinto plc by 1.4% in the third quarter. Bollard Group LLC now owns 6,986 shares of the mining company’s stock valued at $233,000 after buying an additional 97 shares during the period. Finally, Carroll Financial Associates Inc. boosted its stake in shares of 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 period. 6.63% of the stock is currently owned by hedge funds and other institutional investors.

About Rio Tinto plc

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

5 Day Chart for NYSE:RIO

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