Rio Tinto PLC (NYSE:RIO) – Jefferies Group boosted their FY2017 EPS estimates for Rio Tinto PLC in a report released on Monday. Jefferies Group analyst C. Lafemina now anticipates that the brokerage will post earnings per share of $3.47 for the year, up from their prior forecast of $3.41. Jefferies Group currently has a “Buy” rating and a $41.00 price target on the stock. Jefferies Group also issued estimates for Rio Tinto PLC’s FY2018 earnings at $3.04 EPS.

Several other equities analysts have also issued reports on the company. Axiom Securities reaffirmed a “sell” rating on shares of Rio Tinto PLC in a report on Saturday. Barclays PLC reaffirmed an “overweight” rating on shares of Rio Tinto PLC in a report on Thursday, November 10th. Cowen and Company upped their target price on Rio Tinto PLC from $35.00 to $42.00 and gave the company a “market perform” rating in a report on Thursday, November 10th. HSBC started coverage on Rio Tinto PLC in a report on Thursday, November 10th. They issued a “buy” rating for the company. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Rio Tinto PLC in a report on Thursday, October 27th. Four investment 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 stock has an average rating of “Hold” and a consensus target price of $35.56.

Earnings History and Estimates for Rio Tinto PLC (NYSE:RIO)

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Rio Tinto PLC (NYSE:RIO) traded down 2.26% during midday trading on Tuesday, hitting $38.56. The stock had a trading volume of 2,752,770 shares. The stock has a market capitalization of $69.36 billion, a price-to-earnings ratio of 1752.73 and a beta of 1.27. The company’s 50 day moving average price is $35.41 and its 200-day moving average price is $32.09. Rio Tinto PLC has a 52 week low of $21.89 and a 52 week high of $40.19.

Large investors have recently made changes to their positions in the stock. BTC Capital Management Inc. raised its stake in shares of Rio Tinto PLC by 19.5% in the second quarter. BTC Capital Management Inc. now owns 9,695 shares of the mining company’s stock worth $301,000 after buying an additional 1,581 shares in the last quarter. Tocqueville Asset Management L.P. raised its stake 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. Signaturefd LLC raised 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. Bank of Montreal Can bought a new stake in shares of Rio Tinto PLC during the second quarter worth $12,394,000. Finally, Sigma Planning Corp bought a new stake in shares of Rio Tinto PLC during the second quarter worth $239,000. Institutional investors and hedge funds own 6.62% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Jefferies Group Weighs in on Rio Tinto PLC’s FY2017 Earnings (RIO)” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another site, it was stolen and reposted in violation of US and international trademark and copyright laws. The original version of this piece can be viewed at https://www.thecerbatgem.com/2016/11/29/jefferies-group-weighs-in-on-rio-tinto-plcs-fy2017-earnings-rio.html.

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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