Rio Tinto PLC (RIO) Lowered to Neutral at Clarkson Capital

Clarkson Capital downgraded shares of Rio Tinto PLC (NYSE:RIO) from a buy rating to a neutral rating in a report issued on Monday.

A number of other research analysts have also recently commented on RIO. ValuEngine cut Rio Tinto PLC from a strong-buy rating to a buy rating in a research note on Tuesday, June 20th. BidaskClub upgraded Rio Tinto PLC from a sell rating to a hold rating in a research note on Saturday, June 24th. Bank of America Corporation upgraded Rio Tinto PLC from an underperform rating to a buy rating in a research note on Friday, June 30th. Axiom Securities restated a sell rating on shares of Rio Tinto PLC in a research note on Thursday, July 13th. Finally, Cowen and Company restated a market perform rating and set a $45.00 price objective (down previously from $47.00) on shares of Rio Tinto PLC in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $50.50.

Shares of Rio Tinto PLC (NYSE RIO) opened at 50.02 on Monday. The stock has a market cap of $89.68 billion, a P/E ratio of 14.58 and a beta of 0.96. The firm’s 50-day moving average price is $48.28 and its 200 day moving average price is $43.63. Rio Tinto PLC has a one year low of $31.67 and a one year high of $50.77.

ILLEGAL ACTIVITY NOTICE: “Rio Tinto PLC (RIO) Lowered to Neutral at Clarkson Capital” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright laws. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/17/rio-tinto-plc-rio-lowered-to-neutral-at-clarkson-capital.html.

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

A number of hedge funds have recently modified their holdings of the business. Neville Rodie & Shaw Inc. boosted its stake in Rio Tinto PLC by 40.2% in the third quarter. Neville Rodie & Shaw Inc. now owns 47,100 shares of the mining company’s stock valued at $2,223,000 after acquiring an additional 13,500 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in Rio Tinto PLC by 18.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 9,500 shares of the mining company’s stock valued at $402,000 after acquiring an additional 1,503 shares during the period. Capital Innovations LLC boosted its stake in Rio Tinto PLC by 96.8% in the second quarter. Capital Innovations LLC now owns 11,505 shares of the mining company’s stock valued at $487,000 after acquiring an additional 5,660 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Rio Tinto PLC by 12.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 42,967 shares of the mining company’s stock valued at $1,818,000 after acquiring an additional 4,877 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Rio Tinto PLC

A number of other research analysts have also recently commented on RIO. ValuEngine cut Rio Tinto PLC from a strong-buy rating to a buy rating in a research note on Tuesday, June 20th. BidaskClub upgraded Rio Tinto PLC from a sell rating to a hold rating in a research note on Saturday, June 24th. Bank of America Corporation upgraded Rio Tinto PLC from an underperform rating to a buy rating in a research note on Friday, June 30th. Axiom Securities restated a sell rating on shares of Rio Tinto PLC in a research note on Thursday, July 13th. Finally, Cowen and Company restated a market perform rating and set a $45.00 price objective (down previously from $47.00) on shares of Rio Tinto PLC in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $50.50.

Shares of Rio Tinto PLC (NYSE RIO) opened at 50.02 on Monday. The stock has a market cap of $89.68 billion, a P/E ratio of 14.58 and a beta of 0.96. The firm’s 50-day moving average price is $48.28 and its 200 day moving average price is $43.63. Rio Tinto PLC has a one year low of $31.67 and a one year high of $50.77.

ILLEGAL ACTIVITY NOTICE: “Rio Tinto PLC (RIO) Lowered to Neutral at Clarkson Capital” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright laws. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/17/rio-tinto-plc-rio-lowered-to-neutral-at-clarkson-capital.html.

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

A number of hedge funds have recently modified their holdings of the business. Neville Rodie & Shaw Inc. boosted its stake in Rio Tinto PLC by 40.2% in the third quarter. Neville Rodie & Shaw Inc. now owns 47,100 shares of the mining company’s stock valued at $2,223,000 after acquiring an additional 13,500 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in Rio Tinto PLC by 18.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 9,500 shares of the mining company’s stock valued at $402,000 after acquiring an additional 1,503 shares during the period. Capital Innovations LLC boosted its stake in Rio Tinto PLC by 96.8% in the second quarter. Capital Innovations LLC now owns 11,505 shares of the mining company’s stock valued at $487,000 after acquiring an additional 5,660 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Rio Tinto PLC by 12.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 42,967 shares of the mining company’s stock valued at $1,818,000 after acquiring an additional 4,877 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Rio Tinto PLC by 212.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,187 shares of the mining company’s stock valued at $135,000 after acquiring an additional 2,166 shares during the period. Institutional investors 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.

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

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