Shares of Rio Tinto PLC (NYSE:RIO) have been given a consensus rating of “Buy” by the twenty-two analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $50.07.

RIO has been the subject of a number of research analyst reports. Clarkson Capital restated a “buy” rating on shares of Rio Tinto in a report on Wednesday, August 2nd. ValuEngine cut Rio Tinto from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Jefferies Group set a $52.00 price objective on Rio Tinto and gave the stock a “buy” rating in a report on Friday, August 18th. Citigroup restated a “buy” rating on shares of Rio Tinto in a report on Thursday, September 28th. Finally, Societe Generale upgraded Rio Tinto from a “hold” rating to a “buy” rating in a report on Wednesday, November 8th.

Shares of Rio Tinto (NYSE RIO) traded up $0.01 during trading hours on Thursday, hitting $47.90. The stock had a trading volume of 1,809,397 shares, compared to its average volume of 3,269,401. Rio Tinto has a 12 month low of $37.66 and a 12 month high of $50.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.71 and a quick ratio of 1.34.

Several hedge funds have recently modified their holdings of RIO. Van ECK Associates Corp boosted its stake in shares of Rio Tinto by 237.3% in the third quarter. Van ECK Associates Corp now owns 1,280,538 shares of the mining company’s stock valued at $60,429,000 after buying an additional 900,859 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Rio Tinto by 49.9% in the second quarter. Neuberger Berman Group LLC now owns 2,316,097 shares of the mining company’s stock valued at $97,994,000 after buying an additional 770,750 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Rio Tinto by 124.2% in the third quarter. Russell Investments Group Ltd. now owns 1,092,553 shares of the mining company’s stock valued at $51,543,000 after buying an additional 605,170 shares during the period. Jennison Associates LLC boosted its stake in shares of Rio Tinto by 35.7% in the third quarter. Jennison Associates LLC now owns 2,139,716 shares of the mining company’s stock valued at $100,973,000 after buying an additional 563,461 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Rio Tinto by 34.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,149,655 shares of the mining company’s stock valued at $90,952,000 after buying an additional 554,656 shares during the period. Institutional investors and hedge funds own 7.18% of the company’s stock.

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About Rio Tinto

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 (NYSE:RIO)

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