Rio Tinto plc (NYSE:RIO)‘s stock had its “sell” rating reaffirmed by equities researchers at Axiom Securities in a research note issued to investors on Saturday.

A number of other equities research analysts also recently commented on the company. Barclays PLC reaffirmed an “overweight” rating on shares of Rio Tinto plc in a research report on Thursday, November 10th. HSBC began coverage on Rio Tinto plc in a research report on Thursday, November 10th. They issued a “buy” rating for the company. Cowen and Company lifted their price objective on Rio Tinto plc from $35.00 to $42.00 and gave the company a “market perform” rating in a research report on Thursday, November 10th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Rio Tinto plc in a research report on Thursday, October 27th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Rio Tinto plc in a research report on Saturday, October 22nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. The stock currently has an average 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 39.35 on Friday. Rio Tinto plc has a 12 month low of $21.89 and a 12 month high of $40.19. The firm has a market cap of $70.78 billion, a price-to-earnings ratio of 1788.64 and a beta of 1.27. The stock’s 50 day moving average price is $35.23 and its 200 day moving average price is $31.98.

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A number of hedge funds have recently made changes to their positions in RIO. Envestnet Asset Management Inc. boosted its stake 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 valued at $2,420,000 after buying an additional 17,592 shares during the last quarter. LPL Financial LLC boosted its stake 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 last quarter. NEXT Financial Group Inc boosted its stake 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 last quarter. Creative Planning boosted its stake 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 during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of Rio Tinto plc by 8.7% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 31,400 shares of the mining company’s stock worth $983,000 after buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 6.91% 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.

5 Day Chart for NYSE:RIO

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