Rio Tinto PLC (NYSE:RIO) had its target price lifted by Cowen and Company from $35.00 to $42.00 in a research note issued to investors on Thursday. The brokerage presently has a “market perform” rating on the mining company’s stock. Cowen and Company’s price objective suggests a potential upside of 7.47% from the stock’s current price.

RIO has been the subject of a number of other research reports. Liberum Capital restated a “sell” rating on shares of Rio Tinto PLC in a report on Wednesday, August 3rd. Deutsche Bank AG restated a “buy” rating on shares of Rio Tinto PLC in a report on Wednesday, September 7th. Vetr cut Rio Tinto PLC from a “buy” rating to a “hold” rating and set a $34.00 price objective for the company. in a report on Wednesday, July 13th. Jefferies Group upped their target price on Rio Tinto PLC from $35.00 to $38.00 and gave the stock a “hold” rating in a report on Tuesday, August 23rd. Finally, Royal Bank Of Canada upgraded Rio Tinto PLC from a “sector perform” rating to an “outperform” rating in a report on Thursday, September 8th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.56.

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

Shares of Rio Tinto PLC (NYSE:RIO) opened at 39.08 on Thursday. The company’s 50 day moving average price is $33.88 and its 200 day moving average price is $31.56. The stock has a market capitalization of $70.30 billion, a PE ratio of 1776.36 and a beta of 1.27. Rio Tinto PLC has a 52-week low of $21.89 and a 52-week high of $40.19.

Several hedge funds have recently modified their holdings of RIO. Wellington Management Group LLP increased its stake in shares of 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 worth $40,363,000 after buying an additional 1,407,897 shares during the last quarter. Tocqueville Asset Management L.P. increased its position in shares of Rio Tinto PLC by 1.9% in the second quarter. Tocqueville Asset Management L.P. now owns 54,822 shares of the mining company’s stock worth $1,716,000 after buying an additional 1,043 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Rio Tinto PLC by 104.1% in the second quarter. Bank of New York Mellon Corp now owns 202,045 shares of the mining company’s stock worth $6,323,000 after buying an additional 103,030 shares in the last quarter. Creative Planning increased 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. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Rio Tinto PLC during the first quarter worth about $18,376,000. Hedge funds and other institutional investors own 6.87% of the company’s stock.

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.

5 Day Chart for NYSE:RIO

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