Rio Tinto plc’s (RIO) Sell Rating Reaffirmed at Axiom Securities
Several other equities analysts also recently issued reports on RIO. Vetr raised Rio Tinto plc from a hold rating to a buy rating and set a $34.00 target price on the stock in a research report on Tuesday, August 2nd. Investec reaffirmed a buy rating on shares of Rio Tinto plc in a report on Wednesday, August 3rd. Liberum Capital reaffirmed a sell rating on shares of Rio Tinto plc in a report on Wednesday, August 3rd. Beaufort Securities reaffirmed a hold rating on shares of Rio Tinto plc in a report on Thursday, August 4th. Finally, Deutsche Bank AG reaffirmed a buy rating on shares of Rio Tinto plc in a report on Thursday, August 18th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $35.56.
Shares of Rio Tinto plc (NYSE:RIO) opened at 39.35 on Friday. Rio Tinto plc has a one year low of $21.89 and a one year high of $40.19. The stock has a 50 day moving average price of $35.23 and a 200 day moving average price of $31.98. The company has a market capitalization of $70.78 billion, a PE ratio of 1788.64 and a beta of 1.27.
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Several large investors have recently added to or reduced their stakes in RIO. Credit Suisse AG boosted its stake in Rio Tinto plc by 2,738.9% in the third quarter. Credit Suisse AG now owns 1,756,844 shares of the mining company’s stock valued at $58,678,000 after buying an additional 1,694,960 shares during the period. BlackRock Advisors LLC boosted its stake 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. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Rio Tinto plc during the third quarter valued at about $35,543,000. Capital Growth Management LP purchased a new stake in Rio Tinto plc during the third quarter valued at about $25,050,000. Finally, Franklin Resources Inc. boosted its stake 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. 6.91% of the stock is owned by institutional investors and hedge funds.
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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