Rio Tinto PLC (RIO) Receives “Buy” Rating from Citigroup Inc.
Rio Tinto PLC (NYSE:RIO)‘s stock had its “buy” rating reaffirmed by equities researchers at Citigroup Inc. in a note issued to investors on Thursday.
Several other equities research analysts have also weighed in on the company. Canaccord Genuity lowered Rio Tinto PLC from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine lowered Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Jefferies Group LLC set a $52.00 target price on Rio Tinto PLC and gave the stock a “buy” rating in a report on Friday, August 18th. Royal Bank Of Canada lowered Rio Tinto PLC from a “top pick” rating to an “outperform” rating in a report on Tuesday, August 15th. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating on shares of Rio Tinto PLC in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $47.50.
Shares of Rio Tinto PLC (RIO) opened at 46.95 on Thursday. The firm has a 50-day moving average of $47.23 and a 200 day moving average of $42.74. The firm has a market cap of $84.18 billion, a P/E ratio of 13.69 and a beta of 0.98. Rio Tinto PLC has a 12 month low of $31.24 and a 12 month high of $49.89.
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A number of institutional investors have recently bought and sold shares of RIO. Neuberger Berman Group LLC boosted its stake in Rio Tinto PLC by 49.9% in the second quarter. Neuberger Berman Group LLC now owns 2,316,097 shares of the mining company’s stock worth $97,994,000 after purchasing an additional 770,750 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in Rio Tinto PLC in the first quarter worth $28,772,000. Dimensional Fund Advisors LP boosted its stake in Rio Tinto PLC by 34.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,149,655 shares of the mining company’s stock worth $90,952,000 after purchasing an additional 554,656 shares in the last quarter. Bank of America Corp DE boosted its stake in Rio Tinto PLC by 27.8% in the first quarter. Bank of America Corp DE now owns 2,545,963 shares of the mining company’s stock worth $103,570,000 after purchasing an additional 553,424 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Rio Tinto PLC by 53.4% in the second quarter. Jennison Associates LLC now owns 1,576,255 shares of the mining company’s stock worth $66,691,000 after purchasing an additional 548,476 shares in the last quarter. 6.87% of the stock is currently owned by institutional investors.
About Rio Tinto PLC
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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