Rio Tinto PLC (RIO) Shares Gap Down to $31.82
Rio Tinto PLC (NYSE:RIO)’s share price gapped down before the market opened on Friday . The stock had previously closed at $31.72, but opened at $31.82. Rio Tinto PLC shares last traded at $32.21, with a volume of 3,147,503 shares.
A number of equities analysts have recently weighed in on RIO shares. Vetr raised Rio Tinto PLC from a “buy” rating to a “strong-buy” rating and set a $34.00 price target for the company in a report on Thursday, July 7th. Deutsche Bank AG reissued a “buy” rating on shares of Rio Tinto PLC in a report on Thursday, August 18th. Morgan Stanley raised Rio Tinto PLC from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $52.00 to $55.00 in a report on Tuesday, June 28th. Jefferies Group boosted their price target on Rio Tinto PLC from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, July 7th. Finally, Societe Generale cut Rio Tinto PLC from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $35.63.
The firm has a market capitalization of $56.73 billion and a PE ratio of 1433.64. The company’s 50-day moving average price is $32.26 and its 200 day moving average price is $29.98.
The firm also recently declared a dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Friday, August 12th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, August 10th.
A hedge fund recently raised its stake in Rio Tinto PLC stock. Jennison Associates LLC raised its stake in Rio Tinto PLC (NYSE:RIO) by 3.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,297,016 shares of the mining company’s stock after buying an additional 45,254 shares during the period. Jennison Associates LLC owned about 0.07% of Rio Tinto PLC worth $37,769,000 as of its most recent filing with the SEC.
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.