Rio Tinto PLC (NYSE:RIO) has been given a $47.00 price target by Cowen and Company in a research note issued to investors on Monday. The firm presently has a “hold” rating on the mining company’s stock. Cowen and Company’s price target would suggest a potential downside of 5.60% from the company’s previous close.

Several other brokerages have also recently issued reports on RIO. Citigroup Inc. cut Rio Tinto PLC from a “buy” rating to a “neutral” rating in a research report on Tuesday. Clarkson Capital cut Rio Tinto PLC from a “buy” rating to a “neutral” rating in a research report on Monday. ValuEngine cut Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research raised Rio Tinto PLC from a “hold” rating to a “strong-buy” rating and set a $56.00 target price on the stock in a research report on Saturday, October 7th. Finally, Jefferies Group LLC set a $55.00 target price on Rio Tinto PLC and gave the company a “buy” rating in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Rio Tinto PLC has a consensus rating of “Buy” and an average target price of $50.50.

Rio Tinto PLC (NYSE:RIO) opened at 49.79 on Monday. The stock’s 50 day moving average price is $48.28 and its 200 day moving average price is $43.63. The company has a market cap of $89.27 billion, a P/E ratio of 14.52 and a beta of 0.96. Rio Tinto PLC has a 1-year low of $31.67 and a 1-year high of $50.13.

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Several institutional investors and hedge funds have recently modified their holdings of RIO. Knowledge Leaders Capital LLC lifted its holdings in shares of Rio Tinto PLC by 126.0% during the 2nd quarter. Knowledge Leaders Capital LLC now owns 2,393 shares of the mining company’s stock valued at $101,000 after purchasing an additional 1,334 shares during the last quarter. Acrospire Investment Management LLC raised its stake in Rio Tinto PLC by 13.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock worth $110,000 after acquiring an additional 299 shares during the last quarter. Hudock Capital Group LLC raised its stake in Rio Tinto PLC by 125.4% in the 2nd quarter. Hudock Capital Group LLC now owns 2,795 shares of the mining company’s stock worth $118,000 after acquiring an additional 1,555 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Rio Tinto PLC by 212.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,187 shares of the mining company’s stock worth $135,000 after acquiring an additional 2,166 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Rio Tinto PLC by 120.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,753 shares of the mining company’s stock worth $159,000 after acquiring an additional 2,048 shares during the last quarter. Hedge funds and other institutional investors own 6.87% of the company’s stock.

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.

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

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