Rio Tinto PLC (NYSE:RIO) has been given a consensus rating of “Buy” by the twenty-one research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $47.67.

RIO has been the subject of several research reports. Zacks Investment Research upgraded shares of Rio Tinto PLC from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 5th. ValuEngine lowered shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Bank of America Corporation upgraded shares of Rio Tinto PLC from an “underperform” rating to a “buy” rating in a research note on Friday, June 30th. Royal Bank Of Canada lowered shares of Rio Tinto PLC from a “top pick” rating to an “outperform” rating in a research note on Tuesday, August 15th. Finally, Cowen and Company reiterated a “market perform” rating and issued a $45.00 price target (down from $47.00) on shares of Rio Tinto PLC in a research note on Tuesday, July 25th.

Several hedge funds and other institutional investors have recently made changes to their positions in RIO. Neuberger Berman Group LLC purchased a new stake in shares of Rio Tinto PLC during the 1st quarter valued at about $62,865,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Rio Tinto PLC during the 1st quarter valued at about $28,772,000. Dimensional Fund Advisors LP boosted its holdings in shares of Rio Tinto PLC by 34.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,149,655 shares of the mining company’s stock valued at $90,952,000 after acquiring an additional 554,656 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Rio Tinto PLC by 27.8% during the 1st quarter. Bank of America Corp DE now owns 2,545,963 shares of the mining company’s stock valued at $103,570,000 after acquiring an additional 553,424 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Rio Tinto PLC by 53.4% during the 2nd quarter. Jennison Associates LLC now owns 1,576,255 shares of the mining company’s stock valued at $66,691,000 after acquiring an additional 548,476 shares during the last quarter. 6.87% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Rio Tinto PLC (NYSE:RIO) traded up 0.06% on Friday, hitting $47.85. 3,060,980 shares of the stock were exchanged. Rio Tinto PLC has a 12 month low of $31.24 and a 12 month high of $49.89. The company has a 50-day moving average price of $47.23 and a 200 day moving average price of $42.74. The company has a market cap of $85.79 billion, a PE ratio of 13.95 and a beta of 0.98.

The business also recently declared a None dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, August 11th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, August 9th.

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.

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

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