Rio Tinto PLC (RIO) Sees Large Volume Increase
Rio Tinto PLC (NYSE:RIO) saw an uptick in trading volume on Friday . 4,084,548 shares traded hands during mid-day trading, an increase of 18% from the previous session’s volume of 3,456,501 shares.The stock last traded at $30.98 and had previously closed at $30.78.
A number of research firms have weighed in on RIO. Argus restated a “buy” rating and issued a $36.00 price target on shares of Rio Tinto PLC in a report on Tuesday. Axiom Securities restated a “sell” rating on shares of Rio Tinto PLC in a report on Tuesday. Jefferies Group upped their target price on Rio Tinto PLC from $35.00 to $38.00 and gave the company a “hold” rating in a research report on Tuesday, August 23rd. Deutsche Bank AG reaffirmed a “buy” rating on shares of Rio Tinto PLC in a research report on Thursday, August 18th. Finally, Vetr raised Rio Tinto PLC from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Monday, August 8th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $35.63.
The firm’s 50-day moving average is $32.00 and its 200 day moving average is $30.14. The stock has a market capitalization of $56.00 billion and a price-to-earnings ratio of 1415.00.
The company also recently disclosed a dividend, which will be paid on Thursday, September 22nd. Stockholders 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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