Rio Tinto PLC’s (RIO) Neutral Rating Reaffirmed at Goldman Sachs Group Inc.
A number of other research analysts have also recently weighed in on the company. Axiom Securities restated a sell rating on shares of Rio Tinto PLC in a research report on Saturday. Barclays PLC restated 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 raised their price target 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. Finally, Sanford C. Bernstein restated an outperform rating on shares of Rio Tinto PLC in a research report on Thursday, October 27th. Four 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 stock. The stock presently has an average rating of Hold and a consensus price target of $35.56.
Rio Tinto PLC (NYSE:RIO) opened at 38.34 on Tuesday. Rio Tinto PLC has a 52-week low of $21.89 and a 52-week high of $40.19. The firm has a 50-day moving average of $35.41 and a 200-day moving average of $32.09. The firm has a market cap of $68.97 billion, a PE ratio of 1742.73 and a beta of 1.27.
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Institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in Rio Tinto PLC by 29.9% in the second quarter. Signaturefd LLC now owns 3,285 shares of the mining company’s stock valued at $103,000 after buying an additional 757 shares in the last quarter. Carroll Financial Associates Inc. increased its stake in Rio Tinto PLC by 2.3% in the second quarter. Carroll Financial Associates Inc. now owns 4,442 shares of the mining company’s stock valued at $139,000 after buying an additional 100 shares in the last quarter. Salem Investment Counselors Inc. acquired a new stake in Rio Tinto PLC during the third quarter valued at about $182,000. Charter Trust Co. acquired a new stake in Rio Tinto PLC during the third quarter valued at about $201,000. Finally, NEXT Financial Group Inc increased its stake in 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 valued at $189,000 after buying an additional 5,484 shares in the last quarter. 6.62% of the stock is currently owned by hedge funds and other 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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