FY2017 Earnings Forecast for Rio Tinto PLC (RIO) Issued By Jefferies Group

Rio Tinto PLC (NYSE:RIO) – Analysts at Jefferies Group decreased their FY2017 earnings estimates for Rio Tinto PLC in a report issued on Tuesday. Jefferies Group analyst C. Lafemina now forecasts that the mining company will post earnings per share of $4.72 for the year, down from their prior estimate of $4.79. Jefferies Group has a “Buy” rating and a $55.00 price target on the stock. Jefferies Group also issued estimates for Rio Tinto PLC’s FY2019 earnings at $4.94 EPS and FY2020 earnings at $5.17 EPS.

Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Clarkson Capital reissued a “buy” rating on shares of Rio Tinto PLC in a report on Wednesday, August 2nd. Bank of America Corporation raised shares of Rio Tinto PLC from an “underperform” rating to a “buy” rating in a report on Friday, June 30th. ValuEngine downgraded shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, Citigroup Inc. reissued a “buy” rating on shares of Rio Tinto PLC in a report on Thursday, September 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $50.50.

TRADEMARK VIOLATION NOTICE: “FY2017 Earnings Forecast for Rio Tinto PLC (RIO) Issued By Jefferies Group” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another domain, it was stolen and republished in violation of United States & international copyright & trademark legislation. The legal version of this article can be read at https://ledgergazette.com/2017/10/20/fy2017-earnings-forecast-for-rio-tinto-plc-rio-issued-by-jefferies-group.html.

Rio Tinto PLC (NYSE:RIO) opened at 48.13 on Friday. The company has a 50-day moving average of $48.38 and a 200 day moving average of $43.82. Rio Tinto PLC has a 52-week low of $32.47 and a 52-week high of $50.13. The firm has a market cap of $86.29 billion, a price-to-earnings ratio of 14.03 and a beta of 0.95.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Knowledge Leaders Capital LLC increased its position in Rio Tinto PLC by 126.0% in the 2nd quarter. Knowledge Leaders Capital LLC now owns 2,393 shares of the mining company’s stock valued at $101,000 after acquiring an additional 1,334 shares during the period. Acrospire Investment Management LLC increased its position in Rio Tinto PLC by 13.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock valued at $110,000 after acquiring an additional 299 shares during the period. Hudock Capital Group LLC increased its position in Rio Tinto PLC by 125.4% in the 2nd quarter. Hudock Capital Group LLC now owns 2,795 shares of the mining company’s stock valued at $118,000 after acquiring an additional 1,555 shares during the period. The Manufacturers Life Insurance Company increased its position in Rio Tinto PLC by 212.1% in the 2nd 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. Finally, Northwestern Mutual Wealth Management Co. increased its position in Rio Tinto PLC by 120.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,753 shares of the mining company’s stock valued at $159,000 after acquiring an additional 2,048 shares during the period. Hedge funds and other institutional investors own 6.87% of the company’s stock.

The firm also recently declared a None dividend, which was paid on Thursday, September 21st. Shareholders of record on Friday, August 11th were given a $1.10 dividend. The ex-dividend date of this dividend was Wednesday, August 9th.

Rio Tinto PLC Company Profile

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

Rio Tinto PLC (NYSE:RIO) – Analysts at Jefferies Group decreased their FY2017 earnings estimates for Rio Tinto PLC in a report issued on Tuesday. Jefferies Group analyst C. Lafemina now forecasts that the mining company will post earnings per share of $4.72 for the year, down from their prior estimate of $4.79. Jefferies Group has a “Buy” rating and a $55.00 price target on the stock. Jefferies Group also issued estimates for Rio Tinto PLC’s FY2019 earnings at $4.94 EPS and FY2020 earnings at $5.17 EPS.

Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Clarkson Capital reissued a “buy” rating on shares of Rio Tinto PLC in a report on Wednesday, August 2nd. Bank of America Corporation raised shares of Rio Tinto PLC from an “underperform” rating to a “buy” rating in a report on Friday, June 30th. ValuEngine downgraded shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, Citigroup Inc. reissued a “buy” rating on shares of Rio Tinto PLC in a report on Thursday, September 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $50.50.

TRADEMARK VIOLATION NOTICE: “FY2017 Earnings Forecast for Rio Tinto PLC (RIO) Issued By Jefferies Group” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another domain, it was stolen and republished in violation of United States & international copyright & trademark legislation. The legal version of this article can be read at https://ledgergazette.com/2017/10/20/fy2017-earnings-forecast-for-rio-tinto-plc-rio-issued-by-jefferies-group.html.

Rio Tinto PLC (NYSE:RIO) opened at 48.13 on Friday. The company has a 50-day moving average of $48.38 and a 200 day moving average of $43.82. Rio Tinto PLC has a 52-week low of $32.47 and a 52-week high of $50.13. The firm has a market cap of $86.29 billion, a price-to-earnings ratio of 14.03 and a beta of 0.95.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Knowledge Leaders Capital LLC increased its position in Rio Tinto PLC by 126.0% in the 2nd quarter. Knowledge Leaders Capital LLC now owns 2,393 shares of the mining company’s stock valued at $101,000 after acquiring an additional 1,334 shares during the period. Acrospire Investment Management LLC increased its position in Rio Tinto PLC by 13.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock valued at $110,000 after acquiring an additional 299 shares during the period. Hudock Capital Group LLC increased its position in Rio Tinto PLC by 125.4% in the 2nd quarter. Hudock Capital Group LLC now owns 2,795 shares of the mining company’s stock valued at $118,000 after acquiring an additional 1,555 shares during the period. The Manufacturers Life Insurance Company increased its position in Rio Tinto PLC by 212.1% in the 2nd 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. Finally, Northwestern Mutual Wealth Management Co. increased its position in Rio Tinto PLC by 120.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,753 shares of the mining company’s stock valued at $159,000 after acquiring an additional 2,048 shares during the period. Hedge funds and other institutional investors own 6.87% of the company’s stock.

The firm also recently declared a None dividend, which was paid on Thursday, September 21st. Shareholders of record on Friday, August 11th were given a $1.10 dividend. The ex-dividend date of this dividend was Wednesday, August 9th.

Rio Tinto PLC Company Profile

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.

Earnings History and Estimates for Rio Tinto PLC (NYSE:RIO)

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