Rio Tinto PLC (NYSE:RIO)‘s stock had its “buy” rating reaffirmed by Jefferies Group LLC in a report released on Friday. They currently have a $52.00 price target on the mining company’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 17.33% from the company’s current price.

Other analysts have also recently issued reports about the company. ValuEngine cut Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Citigroup Inc. raised Rio Tinto PLC from a “neutral” rating to a “buy” rating in a research report on Thursday, April 20th. BidaskClub raised Rio Tinto PLC from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Bank of America Corporation raised Rio Tinto PLC from an “underperform” rating to a “buy” rating in a research report on Friday, June 30th. Finally, Clarkson Capital reaffirmed a “buy” rating on shares of Rio Tinto PLC in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Rio Tinto PLC presently has an average rating of “Buy” and a consensus target price of $43.00.

Shares of Rio Tinto PLC (RIO) traded up 0.77% on Friday, reaching $44.66. The company’s stock had a trading volume of 1,001,117 shares. Rio Tinto PLC has a 12-month low of $29.62 and a 12-month high of $48.03. The company’s 50 day moving average price is $45.08 and its 200 day moving average price is $42.11. The company has a market cap of $80.07 billion, a P/E ratio of 13.02 and a beta of 0.98.

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Institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its position in 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. Nikko Asset Management Americas Inc. boosted its position in Rio Tinto PLC by 6.7% in the first quarter. Nikko Asset Management Americas Inc. now owns 1,139,064 shares of the mining company’s stock valued at $46,337,000 after buying an additional 71,900 shares during the period. Janney Montgomery Scott LLC boosted its position in Rio Tinto PLC by 8.9% in the first quarter. Janney Montgomery Scott LLC now owns 43,906 shares of the mining company’s stock valued at $1,786,000 after buying an additional 3,586 shares during the period. Founders Financial Securities LLC acquired a new position in Rio Tinto PLC during the first quarter valued at about $895,000. Finally, Sit Investment Associates Inc. acquired a new position in Rio Tinto PLC during the first quarter valued at about $1,095,000. 7.22% 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.

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

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