Rio Tinto PLC (NYSE:RIO)’s share price was down 2.2% during mid-day trading on Friday . The stock traded as low as $32.70 and last traded at $32.72, with a volume of 2,073,446 shares trading hands. The stock had previously closed at $33.47.

A number of equities research analysts have recently weighed in on RIO shares. Axiom Securities reaffirmed a “sell” rating on shares of Rio Tinto PLC in a report on Monday, May 23rd. Deutsche Bank AG reissued a “buy” rating on shares of Rio Tinto PLC in a report on Friday, April 1st. Citigroup Inc. downgraded Rio Tinto PLC from a “neutral” rating to a “sell” rating in a report on Monday, April 18th. Vetr raised Rio Tinto PLC from a “buy” rating to a “strong-buy” rating and set a $33.97 price target for the company in a report on Monday, May 9th. Finally, Jefferies Group reissued a “buy” rating on shares of Rio Tinto PLC in a report on Thursday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $35.25.

The company’s 50-day moving average price is $29.76 and its 200-day moving average price is $28.54. The firm’s market cap is $59.09 billion.

Several hedge funds and institutional investors recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI boosted its position 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 valued at $2,077,000 after buying an additional 47,409 shares during the period. Profund Advisors LLC boosted its position 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 valued at $1,286,000 after buying an additional 6,324 shares during the period. Stevens Capital Management LP boosted its position 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 valued at $2,291,000 after buying an additional 45,744 shares during the period. Boston Partners acquired a new position in Rio Tinto PLC during the fourth quarter valued at approximately $2,517,000. Finally, Morgan Stanley boosted its position in Rio Tinto PLC by 24.2% in the fourth quarter. Morgan Stanley now owns 1,156,480 shares of the mining company’s stock valued at $33,677,000 after buying an additional 225,384 shares during the period.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.