Rio Tinto PLC (NYSE:RIO)‘s stock had its “market perform” rating reaffirmed by analysts at Cowen and Company in a research note issued on Tuesday. They currently have a $45.00 price target on the mining company’s stock, down from their previous price target of $47.00. Cowen and Company’s price target suggests a potential upside of 2.51% from the company’s previous close.

Several other research firms have also commented on RIO. ValuEngine upgraded Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Axiom Securities restated a “sell” rating on shares of Rio Tinto PLC in a research report on Thursday, July 13th. 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 report on Wednesday, April 12th. BidaskClub upgraded Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Finally, Citigroup Inc. upgraded Rio Tinto PLC from a “neutral” rating to a “buy” rating in a report on Thursday, April 20th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Rio Tinto PLC has an average rating of “Buy” and a consensus target price of $40.17.

Shares of Rio Tinto PLC (NYSE:RIO) traded up 3.96% during midday trading on Tuesday, hitting $45.64. The company’s stock had a trading volume of 2,145,341 shares. Rio Tinto PLC has a 12-month low of $29.62 and a 12-month high of $47.11. The firm has a 50-day moving average of $42.03 and a 200 day moving average of $41.67. The firm has a market cap of $82.11 billion, a price-to-earnings ratio of 17.88 and a beta of 0.95.

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A number of institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP bought a new position in shares of Rio Tinto PLC during the first quarter valued at about $111,000. UBS Asset Management Americas Inc. bought a new position in shares of Rio Tinto PLC during the fourth quarter valued at about $119,000. Signaturefd LLC boosted its position in shares of Rio Tinto PLC by 29.9% in the second quarter. Signaturefd LLC now owns 3,285 shares of the mining company’s stock valued at $103,000 after buying an additional 757 shares during the period. Huntington National Bank boosted its position in shares of Rio Tinto PLC by 167.1% in the first quarter. Huntington National Bank now owns 3,707 shares of the mining company’s stock valued at $151,000 after buying an additional 2,319 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Rio Tinto PLC by 267.6% in the first quarter. IFP Advisors Inc now owns 3,874 shares of the mining company’s stock valued at $158,000 after buying an additional 2,820 shares during the period. Hedge funds and other institutional investors own 7.11% of the company’s stock.

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.

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

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