Rio Tinto PLC (RIO) Receives “Sell” Rating from Axiom Securities
Rio Tinto PLC (NYSE:RIO)‘s stock had its “sell” rating restated by investment analysts at Axiom Securities in a research note issued to investors on Thursday.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised Rio Tinto PLC from a “hold” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a research report on Wednesday, April 12th. Citigroup Inc. raised Rio Tinto PLC from a “neutral” rating to a “buy” rating in a research report on Thursday, April 20th. ValuEngine raised Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 11th. Bank of America Corporation raised Rio Tinto PLC from an “underperform” rating to a “buy” rating in a research report on Friday, June 30th. Finally, Royal Bank Of Canada raised Rio Tinto PLC from an “outperform” rating to a “top pick” rating in a research report on Wednesday, May 17th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $39.67.
Rio Tinto PLC (NYSE RIO) opened at 44.69 on Thursday. The company has a market capitalization of $80.40 billion, a PE ratio of 17.50 and a beta of 0.96. Rio Tinto PLC has a 12 month low of $29.62 and a 12 month high of $47.11. The firm’s 50-day moving average is $40.37 and its 200-day moving average is $41.05.
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A number of large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new stake in Rio Tinto PLC during the first quarter worth approximately $111,000. UBS Asset Management Americas Inc. acquired a new stake in Rio Tinto PLC during the fourth quarter worth approximately $119,000. Huntington National Bank boosted its stake in Rio Tinto PLC by 167.1% in the first quarter. Huntington National Bank now owns 3,707 shares of the mining company’s stock worth $151,000 after buying an additional 2,319 shares during the period. IFP Advisors Inc boosted its stake in Rio Tinto PLC by 267.6% in the first quarter. IFP Advisors Inc now owns 3,874 shares of the mining company’s stock worth $158,000 after buying an additional 2,820 shares during the period. Finally, CKW Financial Group acquired a new stake in Rio Tinto PLC during the first quarter worth approximately $163,000. Institutional investors own 7.08% of the company’s stock.
Rio Tinto PLC Company Profile
Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.
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