Rio Tinto PLC (RIO) Expected to Earn FY2018 Earnings of $4.75 Per Share
Rio Tinto PLC (NYSE:RIO) – Equities research analysts at Jefferies Group raised their FY2018 earnings per share estimates for shares of Rio Tinto PLC in a research note issued to investors on Tuesday. Jefferies Group analyst C. Lafemina now expects that the mining company will post earnings per share of $4.75 for the year, up from their prior estimate of $4.72. Jefferies Group has a “Buy” rating and a $55.00 price objective on the stock.
A number of other equities analysts have also weighed in on RIO. Clarkson Capital restated a “buy” rating on shares of Rio Tinto PLC in a research report on Wednesday, August 2nd. Cowen and Company set a $47.00 price objective on shares of Rio Tinto PLC and gave the company a “hold” rating in a research report on Monday. Citigroup Inc. lowered shares of Rio Tinto PLC from a “buy” rating to a “neutral” rating in a research report on Tuesday. Canaccord Genuity lowered shares of Rio Tinto PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Rio Tinto PLC in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Rio Tinto PLC currently has a consensus rating of “Buy” and an average price target of $50.50.
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Rio Tinto PLC (NYSE:RIO) traded up 0.50% during midday trading on Thursday, reaching $48.37. The company had a trading volume of 2,163,723 shares. The stock has a market cap of $86.72 billion, a P/E ratio of 14.10 and a beta of 0.95. The firm has a 50-day moving average of $48.38 and a 200-day moving average of $43.82. Rio Tinto PLC has a 12 month low of $32.47 and a 12 month high of $50.13.
The company also recently announced a None dividend, which was paid on Thursday, September 21st. Stockholders of record on Friday, August 11th were issued a $1.10 dividend. The ex-dividend date was Wednesday, August 9th.
Several institutional investors have recently added to or reduced their stakes in RIO. Ameriprise Financial Inc. lifted its holdings in shares of Rio Tinto PLC by 2.7% in the 1st quarter. Ameriprise Financial Inc. now owns 130,621 shares of the mining company’s stock worth $5,339,000 after acquiring an additional 3,441 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Rio Tinto PLC by 8.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 21,354 shares of the mining company’s stock worth $868,000 after buying an additional 1,649 shares during the period. MARSHALL WACE ASIA Ltd purchased a new position in Rio Tinto PLC in the 1st quarter worth about $2,529,000. Marshall Wace North America L.P. purchased a new position in Rio Tinto PLC in the 1st quarter worth about $2,529,000. Finally, Geode Capital Management LLC increased its stake in Rio Tinto PLC by 13.8% in the 1st quarter. Geode Capital Management LLC now owns 25,180 shares of the mining company’s stock worth $1,024,000 after buying an additional 3,061 shares during the period. Hedge funds and other institutional investors own 6.87% of the company’s stock.
Rio Tinto PLC Company Profile
Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.
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