Rio Tinto PLC (NYSE:RIO)‘s stock had its “outperform” rating reaffirmed by Sanford C. Bernstein in a report released on Thursday.
RIO has been the subject of a number of other research reports. Axiom Securities restated a “sell” rating on shares of Rio Tinto PLC in a research note on Tuesday, August 30th. Jefferies Group boosted their price target on shares of Rio Tinto PLC from $35.00 to $38.00 and gave the company a “hold” rating in a research note on Tuesday, August 23rd. RBC Capital Markets upgraded shares of Rio Tinto PLC from a “sector perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research note on Thursday, September 8th. Deutsche Bank AG restated a “buy” rating on shares of Rio Tinto PLC in a research note on Wednesday, September 7th. Finally, JPMorgan Chase & Co. upgraded shares of Rio Tinto PLC from a “neutral” rating to an “overweight” rating in a research note on Monday, September 12th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.44.
Shares of Rio Tinto PLC (NYSE:RIO) opened at 32.41 on Thursday. The firm has a market cap of $58.30 billion, a PE ratio of 1473.18 and a beta of 1.69. Rio Tinto PLC has a 52 week low of $21.89 and a 52 week high of $40.05. The firm has a 50-day moving average of $31.53 and a 200 day moving average of $30.49.
The business also recently disclosed a dividend, which was paid on Thursday, September 22nd. Investors of record on Friday, August 12th were given a $0.45 dividend. The ex-dividend date was Wednesday, August 10th.
Several hedge funds and other institutional investors have recently bought and sold shares of RIO. BlackRock Advisors LLC boosted its position in Rio Tinto PLC by 335.1% in the second quarter. BlackRock Advisors LLC now owns 1,973,497 shares of the mining company’s stock valued at $61,770,000 after buying an additional 1,519,922 shares during the period. Wellington Management Group LLP boosted its position in Rio Tinto PLC by 7,072.0% in the first quarter. Wellington Management Group LLP now owns 1,427,805 shares of the mining company’s stock valued at $40,363,000 after buying an additional 1,407,897 shares during the period. Franklin Resources Inc. boosted its position in Rio Tinto PLC by 2.8% in the second quarter. Franklin Resources Inc. now owns 25,471,792 shares of the mining company’s stock valued at $797,267,000 after buying an additional 692,799 shares during the period. FMR LLC bought a new position in Rio Tinto PLC during the second quarter valued at $21,447,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in Rio Tinto PLC during the first quarter valued at $18,376,000. Institutional investors own 6.74% of the company’s stock.
About Rio Tinto PLC
Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth’s mineral resources. The Company’s segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.
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