Rio Tinto plc (NYSE:RIO) gapped up prior to trading on Tuesday . The stock had previously closed at $31.80, but opened at $32.13. Rio Tinto plc shares last traded at $33.33, with a volume of 4,099,954 shares changing hands.

A number of equities research analysts recently commented on RIO shares. Axiom Securities reiterated a “sell” rating on shares of Rio Tinto plc in a research report on Monday, May 23rd. Deutsche Bank AG restated a “buy” rating on shares of Rio Tinto plc in a research report on Friday, April 1st. Citigroup Inc. lowered Rio Tinto plc from a “neutral” rating to a “sell” rating in a research report on Monday, April 18th. Vetr upgraded Rio Tinto plc from a “buy” rating to a “strong-buy” rating and set a $33.97 price objective on the stock in a research report on Monday, May 9th. Finally, Morgan Stanley lowered Rio Tinto plc from an “overweight” rating to an “equal weight” rating in a research report on Monday, March 14th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Rio Tinto plc has a consensus rating of “Buy” and an average target price of $35.25.

The firm’s market capitalization is $59.68 billion. The firm has a 50-day moving average price of $29.51 and a 200-day moving average price of $28.47.

Other hedge funds have recently bought and sold shares of the company. Stevens Capital Management LP increased its stake in Rio Tinto plc by 138.9% in the fourth quarter. Stevens Capital Management LP now owns 78,687 shares of the mining company’s stock worth $2,291,000 after buying an additional 45,744 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its stake in Rio Tinto plc by 7.2% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 225,550 shares of the mining company’s stock worth $6,568,000 after buying an additional 15,210 shares during the last quarter. Boston Partners purchased a new stake in Rio Tinto plc during the fourth quarter worth approximately $2,517,000. Commerzbank Aktiengesellschaft FI increased its stake in Rio Tinto plc by 198.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 71,311 shares of the mining company’s stock worth $2,077,000 after buying an additional 47,409 shares during the last quarter. Finally, Profund Advisors LLC increased its stake in Rio Tinto plc by 16.7% in the fourth quarter. Profund Advisors LLC now owns 44,166 shares of the mining company’s stock worth $1,286,000 after buying an additional 6,324 shares during the last quarter.

Rio Tinto plc (Rio Tinto) is an international mining company. Rio Tinto’s business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, gold, industrial minerals (borates, titanium dioxide and salt), iron ore, thermal and metallurgical coal and uranium.

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