Rio Tinto PLC (RIO) Lowered to “Sell” at Citigroup Inc.
A number of other research firms also recently weighed in on RIO. Argus reissued a buy rating and set a $36.00 target price on shares of Rio Tinto PLC in a report on Tuesday, August 30th. RBC Capital Markets raised Rio Tinto PLC from a sector perform rating to an outperform rating and set a $25.00 target price for the company in a report on Thursday, September 8th. Investec reissued a buy rating on shares of Rio Tinto PLC in a report on Wednesday, August 3rd. Jefferies Group reaffirmed a buy rating on shares of Rio Tinto PLC in a research note on Thursday, July 14th. Finally, Axiom Securities reaffirmed a sell rating on shares of Rio Tinto PLC in a research note on Tuesday, August 30th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $34.44.
Shares of Rio Tinto PLC (NYSE:RIO) traded down 4.15% on Wednesday, reaching $31.45. 2,182,966 shares of the company were exchanged. The stock has a 50 day moving average price of $31.87 and a 200-day moving average price of $30.92. The stock has a market capitalization of $56.57 billion, a P/E ratio of 1429.55 and a beta of 1.47. Rio Tinto PLC has a 12 month low of $21.89 and a 12 month high of $39.27.
The company also recently disclosed a dividend, which was paid on Thursday, September 22nd. Investors of record on Friday, August 12th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, August 10th.
Several institutional investors have recently made changes to their positions in the stock. Creative Planning boosted its position in shares of Rio Tinto PLC by 21.4% in the second quarter. Creative Planning now owns 15,260 shares of the mining company’s stock worth $478,000 after buying an additional 2,685 shares in the last quarter. NEXT Financial Group Inc boosted its position in shares of Rio Tinto PLC by 979.3% in the second quarter. NEXT Financial Group Inc now owns 6,044 shares of the mining company’s stock worth $189,000 after buying an additional 5,484 shares during the period. LPL Financial LLC boosted its position in shares of Rio Tinto PLC by 20.8% in the first quarter. LPL Financial LLC now owns 46,173 shares of the mining company’s stock worth $1,261,000 after buying an additional 7,964 shares during the period. Springbok Capital Management LLC bought a new position in shares of Rio Tinto PLC during the first quarter worth approximately $935,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Rio Tinto PLC by 25.9% in the first quarter. Envestnet Asset Management Inc. now owns 85,598 shares of the mining company’s stock worth $2,420,000 after buying an additional 17,592 shares during the period. 6.74% of the stock is currently 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.
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