Rio Tinto PLC’s (RIO) Neutral Rating Reiterated at Goldman Sachs Group, Inc. (The)

Goldman Sachs Group, Inc. (The) reaffirmed their neutral rating on shares of Rio Tinto PLC (NYSE:RIO) in a report released on Monday.

Other equities research analysts have also recently issued reports about the stock. Axiom Securities restated a sell rating on shares of Rio Tinto PLC in a report on Thursday, July 13th. Clarkson Capital restated a buy rating on shares of Rio Tinto PLC in a report on Wednesday, August 2nd. BidaskClub cut shares of Rio Tinto PLC from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Cowen and Company set a $47.00 price target on shares of Rio Tinto PLC and gave the company a hold rating in a report on Wednesday, August 2nd. Finally, BNP Paribas upgraded shares of Rio Tinto PLC from a neutral rating to an outperform rating in a report on Thursday, April 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $41.80.

Rio Tinto PLC (NYSE:RIO) opened at 45.24 on Monday. The firm has a market cap of $81.11 billion, a PE ratio of 13.19 and a beta of 0.98. The firm’s 50 day moving average price is $44.99 and its 200-day moving average price is $42.09. Rio Tinto PLC has a 52 week low of $29.62 and a 52 week high of $48.03.

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The firm also recently declared a None dividend, which will be paid on Thursday, September 21st. Investors of record on Friday, August 11th will be given a $1.10 dividend. The ex-dividend date is Wednesday, August 9th.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its position 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 valued at $103,570,000 after buying an additional 553,424 shares during the period. Neuberger Berman Group LLC raised its position in Rio Tinto PLC by 49.9% in the second quarter. Neuberger Berman Group LLC now owns 2,316,097 shares of the mining company’s stock valued at $97,994,000 after buying an additional 770,750 shares during the period. Dimensional Fund Advisors LP raised its position in Rio Tinto PLC by 34.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,149,655 shares of the mining company’s stock valued at $90,952,000 after buying an additional 554,656 shares during the period. Jennison Associates LLC raised its position in Rio Tinto PLC by 53.4% in the second quarter. Jennison Associates LLC now owns 1,576,255 shares of the mining company’s stock valued at $66,691,000 after buying an additional 548,476 shares during the period. Finally, Northern Trust Corp raised its position in Rio Tinto PLC by 0.8% in the second quarter. Northern Trust Corp now owns 1,166,895 shares of the mining company’s stock valued at $49,372,000 after buying an additional 9,809 shares during the period. 7.22% of the stock is owned by hedge funds and other 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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