Rio Tinto PLC (RIO) Trading Down 2.6%
Rio Tinto PLC (NYSE:RIO)’s share price was down 2.6% on Tuesday . The company traded as low as $30.84 and last traded at $30.87, with a volume of 2,174,576 shares changing hands. The stock had previously closed at $31.69.
A number of equities analysts have weighed in 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 for the company in a research report 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 upped their price objective for the company from $52.00 to $55.00 in a research report on Tuesday, June 28th. Argus reissued a “buy” rating and issued a $36.00 price objective on shares of Rio Tinto PLC in a research report on Tuesday. Finally, Jefferies Group upped their price objective on shares of Rio Tinto PLC from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, July 7th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $35.63.
The firm has a market capitalization of $54.72 billion and a PE ratio of 1382.73. The firm has a 50 day moving average price of $32.13 and a 200 day moving average price of $30.13.
The firm also recently announced a dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Friday, August 12th will be given 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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