Rio Tinto PLC (RIO) Earns “Sell” Rating from Axiom Securities
Rio Tinto PLC (NYSE:RIO)‘s stock had its “sell” rating restated by equities researchers at Axiom Securities in a note issued to investors on Thursday.
A number of other equities research analysts also recently commented on the stock. BidaskClub upgraded shares of Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. ValuEngine upgraded shares of Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. BNP Paribas upgraded shares of Rio Tinto PLC from a “neutral” rating to an “outperform” rating in a research report on Thursday, April 20th. Royal Bank Of Canada upgraded shares of Rio Tinto PLC from an “outperform” rating to a “top pick” rating in a research report on Wednesday, May 17th. Finally, Zacks Investment Research downgraded shares of Rio Tinto PLC from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $39.67.
Rio Tinto PLC (NYSE RIO) opened at 44.69 on Thursday. The stock has a market cap of $80.40 billion, a price-to-earnings ratio of 17.50 and a beta of 0.96. The company has a 50 day moving average price of $40.37 and a 200 day moving average price of $41.05. Rio Tinto PLC has a 52 week low of $29.62 and a 52 week high of $47.11.
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Several institutional investors have recently made changes to their positions in the stock. Regent Investment Management LLC bought a new position in shares of Rio Tinto PLC during the first quarter worth $998,000. Pinnacle Associates Ltd. raised its position in shares of Rio Tinto PLC by 1.4% in the first quarter. Pinnacle Associates Ltd. now owns 87,607 shares of the mining company’s stock worth $3,564,000 after buying an additional 1,199 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in shares of Rio Tinto PLC by 1.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 53,031 shares of the mining company’s stock worth $2,157,000 after buying an additional 1,001 shares during the period. Fort Washington Investment Advisors Inc. OH bought a new position in shares of Rio Tinto PLC during the first quarter worth $1,455,000. Finally, New Century Investment Management Inc. bought a new position in shares of Rio Tinto PLC during the fourth quarter worth $1,578,000. Institutional investors own 7.08% of the company’s stock.
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.
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