Rio Tinto PLC (NYSE:RIO) has been given a consensus rating of “Buy” by the twenty-one ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $47.67.

RIO has been the subject of several analyst reports. Zacks Investment Research lowered shares of Rio Tinto PLC from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 21st. ValuEngine lowered shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Bank of America Corporation upgraded shares of Rio Tinto PLC from an “underperform” rating to a “buy” rating in a report on Friday, June 30th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating on shares of Rio Tinto PLC in a report on Monday, August 14th. Finally, Cowen and Company restated a “market perform” rating and issued a $45.00 target price (down previously from $47.00) on shares of Rio Tinto PLC in a report on Tuesday, July 25th.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Knowledge Leaders Capital LLC increased its position in Rio Tinto PLC by 126.0% during the 2nd quarter. Knowledge Leaders Capital LLC now owns 2,393 shares of the mining company’s stock valued at $101,000 after purchasing an additional 1,334 shares during the period. Acrospire Investment Management LLC increased its position in Rio Tinto PLC by 13.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock valued at $110,000 after purchasing an additional 299 shares during the period. Quantbot Technologies LP purchased a new position in Rio Tinto PLC during the 1st quarter valued at about $111,000. Hudock Capital Group LLC increased its position in Rio Tinto PLC by 125.4% during the 2nd quarter. Hudock Capital Group LLC now owns 2,795 shares of the mining company’s stock valued at $118,000 after purchasing an additional 1,555 shares during the period. Finally, UBS Asset Management Americas Inc. purchased a new position in Rio Tinto PLC during the 4th quarter valued at about $119,000. 6.88% of the stock is currently owned by institutional investors and hedge funds.

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Rio Tinto PLC (RIO) traded down 0.69% during mid-day trading on Friday, reaching $47.63. 3,392,007 shares of the company’s stock traded hands. Rio Tinto PLC has a 12-month low of $30.69 and a 12-month high of $49.89. The stock has a market capitalization of $85.40 billion, a PE ratio of 13.89 and a beta of 0.98. The stock has a 50-day moving average price of $47.15 and a 200-day moving average price of $42.64.

The firm also recently announced a None dividend, which will be paid on Thursday, September 21st. Shareholders of record on Friday, August 11th will be given a dividend of $1.10 per share. The ex-dividend date is Wednesday, August 9th.

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.

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

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