Rio Tinto PLC (RIO) Trading Down 4.4%
Rio Tinto PLC (NYSE:RIO) was down 4.4% on Friday . The stock traded as low as $30.98 and last traded at $31.04, with a volume of 2,935,527 shares traded. The stock had previously closed at $32.46.
Several equities research analysts have weighed in on RIO shares. Axiom Securities reiterated a “sell” rating on shares of Rio Tinto PLC in a report on Monday, May 23rd. Citigroup Inc. cut Rio Tinto PLC from a “neutral” rating to a “sell” rating in a report on Monday, April 18th. Investec reiterated a “buy” rating on shares of Rio Tinto PLC in a report on Wednesday, August 3rd. Vetr upgraded Rio Tinto PLC from a “buy” rating to a “strong-buy” rating and set a $33.97 price objective for the company in a report on Monday, May 9th. Finally, Jefferies Group reiterated a “buy” rating on shares of Rio Tinto PLC in a report on Thursday, July 14th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $35.25.
The company has a market cap of $55.91 billion and a P/E ratio of 1412.73. The firm’s 50-day moving average is $31.77 and its 200-day moving average is $29.42.
The business also recently announced a dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Friday, August 12th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, August 10th.
Other hedge funds recently bought and sold shares of the company. Bridgewater Associates LP raised its stake in Rio Tinto PLC by 22.4% in the fourth quarter. Bridgewater Associates LP now owns 374,900 shares of the mining company’s stock worth $10,917,000 after buying an additional 68,600 shares in the last quarter. Morgan Stanley raised its stake 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 worth $33,677,000 after buying an additional 225,384 shares in the last quarter. Jennison Associates LLC raised its stake 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 worth $37,769,000 after buying an additional 45,254 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake 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 worth $12,986,000 after buying an additional 112,290 shares in the last quarter.
Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth’s mineral resources. The Company’s segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.
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