Rio Tinto PLC (NYSE:RIO) – Equities researchers at Jefferies Group boosted their FY2018 earnings estimates for Rio Tinto in a research report issued to clients and investors on Monday. Jefferies Group analyst C. Lafemina now forecasts that the mining company will post earnings of $4.76 per share for the year, up from their previous estimate of $4.75. Jefferies Group has a “Buy” rating and a $55.00 price objective on the stock. Jefferies Group also issued estimates for Rio Tinto’s FY2019 earnings at $4.92 EPS and FY2020 earnings at $5.13 EPS.

RIO has been the subject of a number of other reports. ValuEngine downgraded Rio Tinto from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. J P Morgan Chase & Co downgraded Rio Tinto from an “overweight” rating to a “neutral” rating in a research note on Monday, November 13th. Citigroup restated a “buy” rating on shares of Rio Tinto in a research note on Tuesday. Royal Bank Of Canada downgraded Rio Tinto from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $47.87 to $48.37 in a research note on Monday, October 23rd. Finally, Cowen set a $47.00 price target on Rio Tinto and gave the company a “hold” rating in a research note on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $51.59.

Rio Tinto (RIO) traded down $1.09 during trading hours on Wednesday, hitting $47.20. The company had a trading volume of 2,886,200 shares, compared to its average volume of 3,259,133. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 0.31. Rio Tinto has a fifty-two week low of $37.66 and a fifty-two week high of $50.77.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Rio Tinto by 16.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,503,490 shares of the mining company’s stock worth $118,140,000 after acquiring an additional 353,835 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Rio Tinto by 49.9% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,316,097 shares of the mining company’s stock worth $97,994,000 after acquiring an additional 770,750 shares during the period. Jennison Associates LLC boosted its stake in shares of Rio Tinto by 35.7% during the 3rd quarter. Jennison Associates LLC now owns 2,139,716 shares of the mining company’s stock worth $100,973,000 after acquiring an additional 563,461 shares during the period. Van ECK Associates Corp boosted its stake in shares of Rio Tinto by 237.3% during the 3rd quarter. Van ECK Associates Corp now owns 1,280,538 shares of the mining company’s stock worth $60,429,000 after acquiring an additional 900,859 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Rio Tinto by 0.8% during the 2nd quarter. Northern Trust Corp now owns 1,166,895 shares of the mining company’s stock worth $49,372,000 after acquiring an additional 9,809 shares during the period. Institutional investors own 7.19% of the company’s stock.

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Rio Tinto 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.

Earnings History and Estimates for Rio Tinto (NYSE:RIO)

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