Jefferies Group LLC restated their buy rating on shares of Rio Tinto PLC (NYSE:RIO) in a research report report published on Thursday morning.
Other equities research analysts have also issued reports about the company. Deutsche Bank AG reaffirmed a buy rating on shares of Rio Tinto PLC in a research note on Wednesday, December 7th. Argus raised their price target on Rio Tinto PLC from $36.00 to $44.00 and gave the stock a buy rating in a research note on Thursday, December 1st. HSBC Holdings plc initiated coverage on Rio Tinto PLC in a research note on Thursday, November 10th. They set a buy rating for the company. J P Morgan Chase & Co reissued a buy rating on shares of Rio Tinto PLC in a research note on Friday, January 6th. Finally, Barclays PLC reissued a buy rating on shares of Rio Tinto PLC in a research note on Tuesday, January 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company. Rio Tinto PLC has a consensus rating of Hold and an average target price of $37.00.
Rio Tinto PLC (NYSE:RIO) traded up 1.05% during midday trading on Thursday, reaching $45.33. The company’s stock had a trading volume of 2,132,443 shares. The firm has a 50 day moving average price of $40.72 and a 200-day moving average price of $35.31. Rio Tinto PLC has a 12-month low of $22.88 and a 12-month high of $46.04. The company has a market cap of $81.54 billion, a P/E ratio of 2060.45 and a beta of 1.29.
A number of hedge funds have recently modified their holdings of the company. Signaturefd LLC boosted its stake in shares of Rio Tinto PLC by 29.9% in the second quarter. Signaturefd LLC now owns 3,285 shares of the mining company’s stock worth $103,000 after buying an additional 757 shares in the last quarter. Salem Investment Counselors Inc. bought a new position in shares of Rio Tinto PLC during the third quarter valued at about $182,000. Charter Trust Co. bought a new position in shares of Rio Tinto PLC during the third quarter valued at about $201,000. Howard Capital Management bought a new position in shares of Rio Tinto PLC during the third quarter valued at about $209,000. Finally, Community Bank N.A. boosted its position in shares of Rio Tinto PLC by 3.2% in the third quarter. Community Bank N.A. now owns 6,404 shares of the mining company’s stock valued at $214,000 after buying an additional 200 shares during the period. 6.62% of the stock is owned by institutional investors.
Rio Tinto PLC Company Profile
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.