Cowen and Company Reiterates “Market Perform” Rating for Rio Tinto PLC (RIO)

Rio Tinto PLC (NYSE:RIO)‘s stock had its “market perform” rating reissued by equities research analysts at Cowen and Company in a research report issued on Tuesday. They presently have a $45.00 price target on the mining company’s stock, down from their prior price target of $47.00. Cowen and Company’s price objective would indicate a potential upside of 2.51% from the stock’s previous close.

RIO has been the topic of several other reports. Axiom Securities reissued a “sell” rating on shares of Rio Tinto PLC in a report on Thursday, July 13th. BidaskClub raised Rio Tinto PLC from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. BNP Paribas raised Rio Tinto PLC from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 20th. Royal Bank Of Canada raised Rio Tinto PLC from an “outperform” rating to a “top pick” rating in a research note on Wednesday, May 17th. Finally, ValuEngine lowered Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Rio Tinto PLC presently has a consensus rating of “Buy” and a consensus price target of $40.17.

Shares of Rio Tinto PLC (NYSE:RIO) traded up 4.31% on Tuesday, hitting $45.79. The company had a trading volume of 2,317,806 shares. The stock’s 50-day moving average is $42.03 and its 200 day moving average is $41.67. The company has a market capitalization of $82.38 billion, a price-to-earnings ratio of 17.94 and a beta of 0.95. Rio Tinto PLC has a 52 week low of $29.62 and a 52 week high of $47.11.

WARNING: This piece of content was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://sportsperspectives.com/2017/07/25/cowen-and-company-reiterates-market-perform-rating-for-rio-tinto-plc-rio.html.

A number of institutional investors have recently modified their holdings of the stock. Neuberger Berman Group LLC bought a new position in shares of Rio Tinto PLC during the first quarter worth approximately $62,865,000. Todd Asset Management LLC acquired a new stake in Rio Tinto PLC during the first quarter worth $44,378,000. Teachers Retirement System of The State of Kentucky acquired a new stake in Rio Tinto PLC during the first quarter worth $28,772,000. Bank of America Corp DE boosted its stake in Rio Tinto PLC by 27.8% in the first quarter. Bank of America Corp DE now owns 2,545,963 shares of the mining company’s stock worth $103,570,000 after buying an additional 553,424 shares during the period. Finally, Bank of Montreal Can acquired a new stake in Rio Tinto PLC during the second quarter worth $21,563,000. Institutional investors own 7.11% 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.

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

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.

Latest News

Leave a Reply