Rio Tinto PLC (RIO) Given Average Rating of “Buy” by Analysts
Rio Tinto PLC (NYSE:RIO) has received a consensus recommendation of “Buy” from the twenty-one analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $50.50.
Several analysts recently issued reports on RIO shares. BidaskClub downgraded Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. ValuEngine downgraded Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Bank of America Corporation upgraded Rio Tinto PLC from an “underperform” rating to a “buy” rating in a report on Friday, June 30th. Clarkson Capital reiterated a “buy” rating on shares of Rio Tinto PLC in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC set a $52.00 price target on Rio Tinto PLC and gave the company a “buy” rating in a report on Friday, August 18th.
A number of hedge funds and other institutional investors have recently modified their holdings of RIO. Knowledge Leaders Capital LLC lifted its holdings 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 worth $101,000 after acquiring an additional 1,334 shares during the last quarter. Acrospire Investment Management LLC lifted its holdings 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 worth $110,000 after acquiring an additional 299 shares during the last quarter. Quantbot Technologies LP bought a new position in Rio Tinto PLC in the first quarter worth about $111,000. Hudock Capital Group LLC lifted its holdings 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 worth $118,000 after acquiring an additional 1,555 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Rio Tinto PLC by 212.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,187 shares of the mining company’s stock worth $135,000 after acquiring an additional 2,166 shares during the last quarter. 6.87% of the stock is currently owned by hedge funds and other institutional investors.
Rio Tinto PLC (NYSE:RIO) traded down 1.06% on Wednesday, reaching $47.75. The stock has a 50-day moving average price of $48.17 and a 200-day moving average price of $43.49. Rio Tinto PLC has a one year low of $31.24 and a one year high of $49.89. The firm has a market capitalization of $85.61 billion, a PE ratio of 13.92 and a beta of 0.95.
The firm also recently announced a None dividend, which was paid on Thursday, September 21st. Shareholders of record on Friday, August 11th were issued a $1.10 dividend. The ex-dividend date was Wednesday, August 9th.
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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.
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