Rio Tinto PLC (RIO) Stock Price Down 4.4%
Shares of Rio Tinto PLC (NYSE:RIO) were down 4.4% during mid-day trading on Friday . The stock traded as low as $30.98 and last traded at $31.04, with a volume of 2,935,527 shares trading hands. The stock had previously closed at $32.46.
Several analysts recently issued reports on RIO shares. Axiom Securities reissued a “sell” rating on shares of Rio Tinto PLC in a research report on Monday, May 23rd. Citigroup Inc. downgraded shares of Rio Tinto PLC from a “neutral” rating to a “sell” rating in a report on Monday, April 18th. Investec reaffirmed a “buy” rating on shares of Rio Tinto PLC in a report on Wednesday, August 3rd. Vetr raised shares of Rio Tinto PLC from a “buy” rating to a “strong-buy” rating and set a $33.97 price objective on the stock in a report on Monday, May 9th. Finally, Jefferies Group reaffirmed 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 assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.25.
The company has a 50-day moving average of $31.77 and a 200 day moving average of $29.48. The firm has a market capitalization of $55.91 billion and a P/E ratio of 1412.73.
The firm also recently disclosed a dividend, which will be paid on Thursday, September 22nd. Investors of record on Friday, August 12th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, August 10th.
Other large investors have added to or reduced their stakes in the company. Jennison Associates LLC boosted 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 valued at $37,769,000 after buying an additional 45,254 shares during the period. Morgan Stanley boosted 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 valued at $33,677,000 after buying an additional 225,384 shares during the period. BNP Paribas Arbitrage SA boosted 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 valued at $12,986,000 after buying an additional 112,290 shares during the period. Finally, Bridgewater Associates LP boosted 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 valued at $10,917,000 after buying an additional 68,600 shares during the period.
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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