Rio Tinto PLC (NYSE:RIO) has been given a $55.00 price objective by analysts at Jefferies Group LLC in a report issued on Thursday. The firm presently has a “buy” rating on the mining company’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 12.06% from the company’s current price.

RIO has been the subject of a number of other reports. Zacks Investment Research raised shares of Rio Tinto PLC from a “strong sell” rating to a “hold” rating in a report on Saturday, August 5th. ValuEngine downgraded 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 raised shares of Rio Tinto PLC from an “underperform” rating to a “buy” rating in a report on Friday, June 30th. Royal Bank Of Canada downgraded shares of Rio Tinto PLC from a “top pick” rating to an “outperform” rating in a report on Tuesday, August 15th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $45.00 price objective (down from $47.00) on shares of Rio Tinto PLC in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $50.50.

Shares of Rio Tinto PLC (NYSE:RIO) traded up 0.72% during midday trading on Thursday, hitting $49.08. 2,709,245 shares of the company were exchanged. Rio Tinto PLC has a one year low of $31.24 and a one year high of $49.89. The stock’s 50-day moving average is $47.94 and its 200-day moving average is $43.33. The stock has a market cap of $88.00 billion, a PE ratio of 14.31 and a beta of 0.95.

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A number of institutional investors and hedge funds have recently bought and sold shares of the business. HPM Partners LLC increased its position in Rio Tinto PLC by 1.3% in the 2nd quarter. HPM Partners LLC now owns 10,211 shares of the mining company’s stock valued at $432,000 after acquiring an additional 132 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its position in Rio Tinto PLC by 0.5% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 30,150 shares of the mining company’s stock valued at $1,276,000 after acquiring an additional 150 shares in the last quarter. Bollard Group LLC increased its position in Rio Tinto PLC by 3.0% in the 2nd quarter. Bollard Group LLC now owns 7,196 shares of the mining company’s stock valued at $304,000 after acquiring an additional 210 shares in the last quarter. Moors & Cabot Inc. increased its position in Rio Tinto PLC by 2.7% in the 2nd quarter. Moors & Cabot Inc. now owns 9,997 shares of the mining company’s stock valued at $425,000 after acquiring an additional 264 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in Rio Tinto PLC by 2.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,821 shares of the mining company’s stock valued at $500,000 after acquiring an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 6.87% 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.

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

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