Societe Generale upgraded shares of Rio Tinto PLC (NYSE:RIO) from a hold rating to a buy rating in a research report report published on Wednesday, MarketBeat reports.
Several other brokerages also recently commented on RIO. Citigroup Inc. downgraded Rio Tinto PLC from a buy rating to a neutral rating in a research note on Tuesday, October 17th. Cowen and Company set a $47.00 price target on Rio Tinto PLC and gave the company a hold rating in a research note on Monday, October 16th. Clarkson Capital downgraded Rio Tinto PLC from a buy rating to a neutral rating in a research note on Monday, October 16th. ValuEngine downgraded Rio Tinto PLC from a strong-buy rating to a buy rating in a research note on Friday, September 1st. Finally, Zacks Investment Research upgraded Rio Tinto PLC from a hold rating to a strong-buy rating and set a $56.00 price target for the company in a research note on Saturday, October 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Rio Tinto PLC has an average rating of Buy and an average target price of $50.07.
Shares of Rio Tinto PLC (NYSE RIO) traded up $0.39 on Wednesday, hitting $49.51. The stock had a trading volume of 1,695,556 shares, compared to its average volume of 2,312,008. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.71 and a quick ratio of 1.34. Rio Tinto PLC has a 12 month low of $36.25 and a 12 month high of $50.77.
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Several large investors have recently bought and sold shares of RIO. Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 3,061 shares during the period. Barings LLC bought a new stake in shares of Rio Tinto PLC in the 1st quarter worth approximately $419,000. Credit Suisse AG raised its holdings in shares of Rio Tinto PLC by 56.8% in the 1st quarter. Credit Suisse AG now owns 174,593 shares of the mining company’s stock worth $7,102,000 after purchasing an additional 63,272 shares during the period. Bank of Montreal Can bought a new stake in shares of Rio Tinto PLC in the 2nd quarter worth approximately $21,563,000. Finally, Kempner Capital Management Inc. raised its holdings in shares of Rio Tinto PLC by 1.2% in the 2nd quarter. Kempner Capital Management Inc. now owns 49,008 shares of the mining company’s stock worth $2,074,000 after purchasing an additional 560 shares during the period. 6.97% of the stock is currently owned by institutional investors.
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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