Rio Tinto PLC (NYSE:RIO) was downgraded by research analysts at Royal Bank Of Canada from a “top pick” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports.

RIO has been the topic of several other reports. Clarkson Capital restated a “buy” rating on shares of Rio Tinto PLC in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Rio Tinto PLC from a “strong sell” rating to a “hold” rating in a report on Saturday, August 5th. Cowen and Company set a $47.00 target price on shares of Rio Tinto PLC and gave the stock a “hold” rating in a report on Wednesday, August 2nd. Axiom Securities restated a “sell” rating on shares of Rio Tinto PLC in a report on Tuesday, July 25th. Finally, BidaskClub upgraded shares of Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $41.80.

Rio Tinto PLC (NYSE RIO) traded down 1.23% during midday trading on Tuesday, hitting $44.21. 3,159,361 shares of the stock were exchanged. The firm has a market capitalization of $79.26 billion, a price-to-earnings ratio of 12.89 and a beta of 0.98. The company has a 50 day moving average price of $44.70 and a 200 day moving average price of $42.08. Rio Tinto PLC has a one year low of $29.62 and a one year high of $48.03.

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Institutional investors have recently added to or reduced their stakes in the stock. Knowledge Leaders Capital LLC boosted its position in Rio Tinto PLC by 126.0% in the second quarter. Knowledge Leaders Capital LLC now owns 2,393 shares of the mining company’s stock valued at $101,000 after buying an additional 1,334 shares in the last quarter. Acrospire Investment Management LLC boosted its position in Rio Tinto PLC by 13.0% in the second quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock valued at $110,000 after buying an additional 299 shares in the last quarter. Quantbot Technologies LP purchased a new position in Rio Tinto PLC during the first quarter valued at $111,000. Hudock Capital Group LLC boosted its position in Rio Tinto PLC by 125.4% in the second quarter. Hudock Capital Group LLC now owns 2,795 shares of the mining company’s stock valued at $118,000 after buying an additional 1,555 shares in the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new position in Rio Tinto PLC during the fourth quarter valued at $119,000. 7.22% of the stock is 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.

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

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