Rio Tinto PLC (NYSE:RIO)’s share price was down 2.6% during mid-day trading on Tuesday . The stock traded as low as $30.84 and last traded at $30.87, with a volume of 2,174,576 shares traded. The stock had previously closed at $31.69.

Several equities analysts have recently issued reports on RIO shares. Vetr raised shares of Rio Tinto PLC from a “buy” rating to a “strong-buy” rating and set a $34.00 price objective on the stock in a research note on Thursday, July 7th. Deutsche Bank AG reissued a “buy” rating on shares of Rio Tinto PLC in a research report on Thursday, August 18th. Morgan Stanley raised shares of Rio Tinto PLC from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $52.00 to $55.00 in a research report on Tuesday, June 28th. Argus reissued a “buy” rating and issued a $36.00 target price on shares of Rio Tinto PLC in a research report on Tuesday. Finally, Jefferies Group lifted their target price on shares of Rio Tinto PLC from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, July 7th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $35.63.

The stock has a 50-day moving average price of $32.22 and a 200 day moving average price of $30.13. The company has a market cap of $55.04 billion and a price-to-earnings ratio of 1390.91.

The firm also recently declared 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 of this dividend is Wednesday, August 10th.

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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