Rio Tinto PLC (RIO) Rating Lowered to Sell at BidaskClub

Rio Tinto PLC (NYSE:RIO) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other research analysts also recently issued reports on the stock. Royal Bank Of Canada upgraded shares of Rio Tinto PLC from an “outperform” rating to a “top pick” rating in a research report on Wednesday, May 17th. ValuEngine upgraded shares of Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 11th. BNP Paribas upgraded shares of Rio Tinto PLC from a “neutral” rating to an “outperform” rating in a research report on Thursday, April 20th. Citigroup Inc. upgraded shares of Rio Tinto PLC from a “neutral” rating to a “buy” rating in a research report on Thursday, April 20th. Finally, Zacks Investment Research upgraded shares of Rio Tinto PLC from a “hold” rating to a “strong-buy” rating and set a $47.00 target price for the company in a research report on Wednesday, April 12th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $41.86.

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

Rio Tinto PLC (NYSE:RIO) traded down 0.13% during midday trading on Friday, hitting $39.30. The stock had a trading volume of 3,250,885 shares. The firm has a market capitalization of $70.71 billion, a P/E ratio of 15.39 and a beta of 1.01. The firm has a 50-day moving average of $40.23 and a 200 day moving average of $41.06. Rio Tinto PLC has a 52-week low of $27.74 and a 52-week high of $47.11.

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Hedge funds have recently added to or reduced their stakes in the company. Nicholas Hoffman & Company LLC. boosted its stake in Rio Tinto PLC by 0.3% in the first quarter. Nicholas Hoffman & Company LLC. now owns 8,310 shares of the mining company’s stock worth $338,000 after buying an additional 24 shares in the last quarter. Neville Rodie & Shaw Inc. boosted its stake in Rio Tinto PLC by 0.4% in the first quarter. Neville Rodie & Shaw Inc. now owns 24,000 shares of the mining company’s stock worth $976,000 after buying an additional 100 shares in the last quarter. Courier Capital LLC boosted its stake in Rio Tinto PLC by 2.1% in the first quarter. Courier Capital LLC now owns 9,524 shares of the mining company’s stock worth $387,000 after buying an additional 200 shares in the last quarter. Capital Innovations LLC boosted its stake in Rio Tinto PLC by 5.2% in the first quarter. Capital Innovations LLC now owns 5,845 shares of the mining company’s stock worth $238,000 after buying an additional 290 shares in the last quarter. Finally, ProVise Management Group LLC boosted its stake in Rio Tinto PLC by 2.2% in the first quarter. ProVise Management Group LLC now owns 14,200 shares of the mining company’s stock worth $578,000 after buying an additional 300 shares in the last quarter. 7.06% of the stock is owned by institutional investors and hedge funds.

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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