Rio Tinto plc (NYSE:RIO) – Jefferies Group cut their FY2018 earnings per share (EPS) estimates for shares of Rio Tinto plc in a report issued on Tuesday. Jefferies Group analyst C. Lafemina now expects that the mining company will post earnings per share of $3.97 for the year, down from their previous estimate of $4.03. Jefferies Group has a “Buy” rating on the stock.
Several other brokerages have also issued reports on RIO. Zacks Investment Research raised 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. Citigroup Inc raised Rio Tinto plc from a “neutral” rating to a “buy” rating in a research report on Thursday. BNP Paribas raised Rio Tinto plc from a “neutral” rating to an “outperform” rating in a research report on Thursday. Sanford C. Bernstein reissued an “overweight” rating on shares of Rio Tinto plc in a research report on Saturday, January 14th. Finally, Morgan Stanley reissued a “buy” rating on shares of Rio Tinto plc in a research report on Saturday, January 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $41.86.
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Rio Tinto plc (NYSE:RIO) traded down 0.139% during mid-day trading on Friday, hitting $39.515. The stock had a trading volume of 2,165,072 shares. The stock has a market capitalization of $71.09 billion, a P/E ratio of 15.478 and a beta of 1.19. Rio Tinto plc has a 52 week low of $26.95 and a 52 week high of $47.11. The company’s 50 day moving average is $40.72 and its 200-day moving average is $39.60.
The firm also recently announced a semiannual dividend, which was paid on Thursday, April 6th. Shareholders of record on Friday, February 24th were paid a dividend of $1.2582 per share. This represents a yield of 5.54%. This is an increase from Rio Tinto plc’s previous semiannual dividend of $0.96. The ex-dividend date was Wednesday, February 22nd.
A number of hedge funds have recently modified their holdings of the stock. Boston Advisors LLC increased its stake in shares of Rio Tinto plc by 0.5% in the third quarter. Boston Advisors LLC now owns 8,530 shares of the mining company’s stock valued at $285,000 after buying an additional 40 shares in the last quarter. Howard Capital Management purchased a new position in Rio Tinto plc during the third quarter worth about $209,000. Caz Investments LP purchased a new position in Rio Tinto plc during the third quarter worth about $682,000. Bollard Group LLC increased its position in Rio Tinto plc by 1.4% in the third quarter. Bollard Group LLC now owns 6,986 shares of the mining company’s stock worth $233,000 after buying an additional 97 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Rio Tinto plc during the third quarter worth about $35,543,000. Institutional investors and hedge funds own 6.63% of the company’s stock.
About Rio Tinto plc
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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