Rio Tinto PLC (RIO) Shares Gap Up to $30.80
Rio Tinto PLC (NYSE:RIO) shares gapped up before the market opened on Thursday . The stock had previously closed at $30.48, but opened at $30.80. Rio Tinto PLC shares last traded at $31.47, with a volume of 2,263,266 shares.
A number of research analysts have recently issued reports on RIO shares. Jefferies Group lifted their price target on Rio Tinto PLC to $33.00 in a report on Wednesday, March 30th. Deutsche Bank AG reiterated a “buy” rating on shares of Rio Tinto PLC in a report on Monday, April 25th. Argus started coverage on Rio Tinto PLC in a report on Wednesday, March 30th. They issued a “buy” rating and a $36.00 price target on the stock. Vetr downgraded Rio Tinto PLC from a “strong-buy” rating to a “buy” rating and set a $33.16 price target on the stock. in a report on Tuesday, April 12th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Rio Tinto PLC in a report on Wednesday, June 22nd. 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 has a consensus rating of “Hold” and an average price target of $35.25.
The stock has a 50-day moving average of $30.23 and a 200 day moving average of $28.64. The stock’s market cap is $56.77 billion.
Several institutional investors have bought and sold shares of RIO. Jennison Associates LLC raised its position in 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 valued at $37,769,000 after buying an additional 45,254 shares during the last quarter. Morgan Stanley raised 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 last quarter. BNP Paribas Arbitrage SA raised its position in 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 valued at $12,986,000 after buying an additional 112,290 shares during the last quarter. Finally, Boston Partners acquired a new position in Rio Tinto PLC during the fourth quarter valued at $2,517,000.
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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