Rio Tinto PLC (NYSE:RIO) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other research analysts also recently commented on the company. Zacks Investment Research upgraded Rio Tinto PLC from a “hold” rating to a “strong-buy” rating and set a $47.00 target price for the company in a research note on Wednesday, April 12th. Citigroup Inc. upgraded Rio Tinto PLC from a “neutral” rating to a “buy” rating in a research note on Thursday, April 20th. Royal Bank Of Canada upgraded Rio Tinto PLC from an “outperform” rating to a “top pick” rating in a research note on Wednesday, May 17th. ValuEngine upgraded Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 11th. Finally, BNP Paribas upgraded Rio Tinto PLC from a “neutral” rating to an “outperform” rating in a research report on Thursday, April 20th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. Rio Tinto PLC presently has a consensus rating of “Buy” and an average target price of $41.86.

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

Rio Tinto PLC (RIO) traded down 0.13% on Friday, reaching $39.30. The company had a trading volume of 3,250,885 shares. The stock has a market capitalization of $70.71 billion, a P/E ratio of 15.39 and a beta of 1.01. Rio Tinto PLC has a 12-month low of $27.74 and a 12-month high of $47.11. The stock’s 50-day moving average price is $40.23 and its 200-day moving average price is $41.06.

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Institutional investors have recently made changes to their positions in the company. Luminus Management LLC bought a new position in shares of Rio Tinto PLC during the fourth quarter worth approximately $138,568,000. United Capital Financial Advisers LLC boosted its position in shares of Rio Tinto PLC by 54.8% in the fourth quarter. United Capital Financial Advisers LLC now owns 14,405 shares of the mining company’s stock worth $554,000 after buying an additional 5,101 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Rio Tinto PLC by 16.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,802 shares of the mining company’s stock worth $454,000 after buying an additional 1,704 shares during the period. Wexford Capital LP bought a new position in shares of Rio Tinto PLC during the fourth quarter worth approximately $246,000. Finally, First Republic Investment Management Inc. bought a new position in shares of Rio Tinto PLC during the fourth quarter worth approximately $286,000. 7.06% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto PLC Company Profile

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.

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