Rio Tinto PLC (NYSE:RIO) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Rio Tinto PLC (NYSE:RIO) from a hold rating to a buy rating in a research report released on Wednesday morning.

RIO has been the topic of a number of other research reports. Zacks Investment Research lowered Rio Tinto PLC from a hold rating to a strong sell rating in a research report on Wednesday, June 21st. Bank of America Corporation upgraded Rio Tinto PLC from an underperform rating to a buy rating in a research report on Friday, June 30th. ValuEngine upgraded Rio Tinto PLC from a buy rating to a strong-buy rating in a research report on Thursday, May 11th. Axiom Securities reiterated a sell rating on shares of Rio Tinto PLC in a research report on Thursday, March 16th. Finally, Royal Bank of Canada upgraded Rio Tinto PLC from an outperform rating to a top pick rating in a research report on Wednesday, May 17th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $39.67.

Rio Tinto PLC (RIO) traded up 1.805% during midday trading on Wednesday, hitting $44.285. 3,405,526 shares of the stock traded hands. The company’s 50 day moving average price is $40.37 and its 200 day moving average price is $41.05. The firm has a market cap of $79.67 billion, a PE ratio of 17.346 and a beta of 0.96. Rio Tinto PLC has a 12 month low of $29.62 and a 12 month high of $47.11.

WARNING: “Rio Tinto PLC (NYSE:RIO) Raised to “Buy” at BidaskClub” was first reported by WKRB News and is the property of of WKRB News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this news story can be read at https://www.wkrb13.com/markets/2285878/rio-tinto-plc-nyserio-raised-to-buy-at-bidaskclub.html.

Several hedge funds have recently modified their holdings of RIO. Nicholas Hoffman & Company LLC. increased its stake in shares of 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 during the last quarter. Neville Rodie & Shaw Inc. increased its stake in shares of 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 during the last quarter. Courier Capital LLC increased its stake in shares of 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 during the last quarter. Capital Innovations LLC increased its stake in shares of 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 during the last quarter. Finally, ProVise Management Group LLC increased its stake in shares of 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 during 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.

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2285878/rio-tinto-plc-nyserio-raised-to-buy-at-bidaskclub.html

Receive News & Ratings for Rio Tinto PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto PLC and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.