Rio Tinto PLC (NYSE:RIO) shares traded up 4% during trading on Tuesday . The stock traded as high as $32.35 and last traded at $32.30, with a volume of 2,591,283 shares traded. The stock had previously closed at $31.07.

A number of analysts have recently issued reports on the company. Vetr upgraded Rio Tinto PLC from a “sell” rating to a “hold” rating and set a $33.97 price objective on the stock in a research report on Monday, April 25th. Cowen and Company restated a “market perform” rating and set a $35.00 price objective (up from $27.00) on shares of Rio Tinto PLC in a research report on Tuesday, May 3rd. Deutsche Bank AG restated a “buy” rating on shares of Rio Tinto PLC in a research report on Friday, July 15th. Jefferies Group restated a “buy” rating on shares of Rio Tinto PLC in a research report on Thursday, July 14th. Finally, Morgan Stanley restated a “neutral” rating on shares of Rio Tinto PLC in a research report on Tuesday, April 19th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $35.25.

The company’s market capitalization is $58.25 billion. The company’s 50 day moving average price is $30.41 and its 200-day moving average price is $28.71.

A number of hedge funds recently modified their holdings of the company. Jennison Associates LLC raised its stake 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 valued at $37,769,000 after buying an additional 45,254 shares during the period. Boston Partners bought a new stake in shares of Rio Tinto PLC during the fourth quarter valued at approximately $2,517,000. BNP Paribas Arbitrage SA raised its stake 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 valued at $12,986,000 after buying an additional 112,290 shares during the period. Finally, Morgan Stanley raised its stake 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 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.

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