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

A number of equities analysts recently issued reports on RIO shares. Vetr downgraded shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating and set a $33.16 price objective on the stock. in a report on Tuesday, April 12th. Axiom Securities downgraded shares of Rio Tinto PLC from a “neutral” rating to a “sell” rating and lowered their price target for the company from $19.00 to $14.00 in a report on Thursday, March 31st. JPMorgan Chase & Co. reaffirmed an “outperform” rating on shares of Rio Tinto PLC in a report on Thursday, March 31st. Credit Agricole SA downgraded shares of Rio Tinto PLC from an “outperform” rating to an “underperform” rating in a report on Thursday, April 14th. Finally, Sanford C. Bernstein reaffirmed an “overweight” rating on shares of Rio Tinto PLC in a report on Wednesday, May 25th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. Rio Tinto PLC has a consensus rating of “Hold” and an average price target of $35.25.

The company’s market cap is $59.09 billion. The company has a 50-day moving average price of $29.87 and a 200-day moving average price of $28.57.

Several hedge funds and institutional investors have made changes to their positions in RIO. Stevens Capital Management LP raised its position in shares of 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 period. Boston Partners acquired a new position in shares of Rio Tinto PLC during the fourth quarter worth about $2,517,000. BNP Paribas Arbitrage SA raised its position in shares of Rio Tinto PLC by 33.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 445,951 shares of the mining company’s stock worth $12,986,000 after buying an additional 112,290 shares during the period. Morgan Stanley raised its position in shares of Rio Tinto PLC by 24.2% in the fourth quarter. Morgan Stanley now owns 1,156,480 shares of the mining company’s stock worth $33,677,000 after buying an additional 225,384 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Rio Tinto PLC by 3.6% in the fourth quarter. Jennison Associates LLC now owns 1,297,016 shares of the mining company’s stock worth $37,769,000 after buying an additional 45,254 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.

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.