Rio Tinto PLC (RIO) Lifted to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Rio Tinto PLC (NYSE:RIO) from a hold rating to a strong-buy rating in a report issued on Saturday morning. The brokerage currently has $56.00 price target on the mining company’s stock.

According to Zacks, “Rio Tinto PLC is an international mining company. The Company has interests in mining for aluminum, borax, coal, copper, gold, iron ore, lead, silver, tin, uranium, zinc, titanium, dioxide feedstock, diamonds, talc and zircon. RTZ’s various mining operations are located in New Zealand, Australia, South Africa, Europe and Canada. “

Several other research analysts have also recently commented on the stock. Bank of America Corporation upgraded shares of Rio Tinto PLC from an underperform rating to a buy rating in a report on Friday, June 30th. Axiom Securities reiterated a sell rating on shares of Rio Tinto PLC in a report on Tuesday, July 25th. ValuEngine cut shares of Rio Tinto PLC from a strong-buy rating to a buy rating in a report on Friday, September 1st. BidaskClub upgraded shares of Rio Tinto PLC from a sell rating to a hold rating in a report on Saturday, June 24th. Finally, Cowen and Company reiterated a market perform rating and issued a $45.00 target price (down from $47.00) on shares of Rio Tinto PLC in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $50.50.

Rio Tinto PLC (NYSE:RIO) opened at 48.26 on Friday. The stock has a market cap of $86.53 billion, a P/E ratio of 14.07 and a beta of 0.96. Rio Tinto PLC has a 52 week low of $31.24 and a 52 week high of $49.89. The company’s 50 day moving average is $48.13 and its 200 day moving average is $43.46.

TRADEMARK VIOLATION NOTICE: This article was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another domain, it was illegally stolen and reposted in violation of international copyright law. The original version of this article can be read at https://ledgergazette.com/2017/10/11/rio-tinto-plc-rio-lifted-to-strong-buy-at-zacks-investment-research.html.

The business also recently declared a None dividend, which was paid on Thursday, September 21st. Investors of record on Friday, August 11th were issued a dividend of $1.10 per share. The ex-dividend date was Wednesday, August 9th.

Several hedge funds have recently bought and sold shares of the stock. HPM Partners LLC boosted its holdings in shares of Rio Tinto PLC by 1.3% during the second quarter. HPM Partners LLC now owns 10,211 shares of the mining company’s stock worth $432,000 after purchasing an additional 132 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of Rio Tinto PLC by 0.5% during the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 30,150 shares of the mining company’s stock worth $1,276,000 after purchasing an additional 150 shares during the period. Bollard Group LLC boosted its holdings in shares of Rio Tinto PLC by 3.0% during the second quarter. Bollard Group LLC now owns 7,196 shares of the mining company’s stock worth $304,000 after purchasing an additional 210 shares during the period. Moors & Cabot Inc. boosted its holdings in shares of Rio Tinto PLC by 2.7% during the second quarter. Moors & Cabot Inc. now owns 9,997 shares of the mining company’s stock worth $425,000 after purchasing an additional 264 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Rio Tinto PLC by 2.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 11,821 shares of the mining company’s stock worth $500,000 after purchasing an additional 281 shares during the period. Institutional investors and hedge funds own 6.87% 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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According to Zacks, “Rio Tinto PLC is an international mining company. The Company has interests in mining for aluminum, borax, coal, copper, gold, iron ore, lead, silver, tin, uranium, zinc, titanium, dioxide feedstock, diamonds, talc and zircon. RTZ’s various mining operations are located in New Zealand, Australia, South Africa, Europe and Canada. “

Several other research analysts have also recently commented on the stock. Bank of America Corporation upgraded shares of Rio Tinto PLC from an underperform rating to a buy rating in a report on Friday, June 30th. Axiom Securities reiterated a sell rating on shares of Rio Tinto PLC in a report on Tuesday, July 25th. ValuEngine cut shares of Rio Tinto PLC from a strong-buy rating to a buy rating in a report on Friday, September 1st. BidaskClub upgraded shares of Rio Tinto PLC from a sell rating to a hold rating in a report on Saturday, June 24th. Finally, Cowen and Company reiterated a market perform rating and issued a $45.00 target price (down from $47.00) on shares of Rio Tinto PLC in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $50.50.

Rio Tinto PLC (NYSE:RIO) opened at 48.26 on Friday. The stock has a market cap of $86.53 billion, a P/E ratio of 14.07 and a beta of 0.96. Rio Tinto PLC has a 52 week low of $31.24 and a 52 week high of $49.89. The company’s 50 day moving average is $48.13 and its 200 day moving average is $43.46.

TRADEMARK VIOLATION NOTICE: This article was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another domain, it was illegally stolen and reposted in violation of international copyright law. The original version of this article can be read at https://ledgergazette.com/2017/10/11/rio-tinto-plc-rio-lifted-to-strong-buy-at-zacks-investment-research.html.

The business also recently declared a None dividend, which was paid on Thursday, September 21st. Investors of record on Friday, August 11th were issued a dividend of $1.10 per share. The ex-dividend date was Wednesday, August 9th.

Several hedge funds have recently bought and sold shares of the stock. HPM Partners LLC boosted its holdings in shares of Rio Tinto PLC by 1.3% during the second quarter. HPM Partners LLC now owns 10,211 shares of the mining company’s stock worth $432,000 after purchasing an additional 132 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of Rio Tinto PLC by 0.5% during the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 30,150 shares of the mining company’s stock worth $1,276,000 after purchasing an additional 150 shares during the period. Bollard Group LLC boosted its holdings in shares of Rio Tinto PLC by 3.0% during the second quarter. Bollard Group LLC now owns 7,196 shares of the mining company’s stock worth $304,000 after purchasing an additional 210 shares during the period. Moors & Cabot Inc. boosted its holdings in shares of Rio Tinto PLC by 2.7% during the second quarter. Moors & Cabot Inc. now owns 9,997 shares of the mining company’s stock worth $425,000 after purchasing an additional 264 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Rio Tinto PLC by 2.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 11,821 shares of the mining company’s stock worth $500,000 after purchasing an additional 281 shares during the period. Institutional investors and hedge funds own 6.87% 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.

Get a free copy of the Zacks research report on Rio Tinto PLC (RIO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

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