Cowen and Company reaffirmed their market perform rating on shares of Rio Tinto PLC (NYSE:RIO) in a research note published on Thursday. They currently have a $35.00 price target on the mining company’s stock.

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

Other research analysts also recently issued research reports about the stock. Vetr downgraded shares of Rio Tinto PLC from a strong-buy rating to a buy rating and set a $34.00 price objective on the stock. in a research report on Thursday, June 30th. Argus restated a buy rating and set a $36.00 price objective on shares of Rio Tinto PLC in a research report on Monday, June 27th. Deutsche Bank AG restated a buy rating on shares of Rio Tinto PLC in a research report on Wednesday, June 22nd. JPMorgan Chase & Co. restated a buy rating on shares of Rio Tinto PLC in a research report on Wednesday, June 22nd. Finally, Jefferies Group increased their price objective on shares of Rio Tinto PLC from $33.00 to $35.00 and gave the company a buy rating in a research report on Thursday, July 7th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $34.44.

Shares of Rio Tinto PLC (NYSE:RIO) opened at 30.80 on Thursday. Rio Tinto PLC has a 12-month low of $21.89 and a 12-month high of $40.05. The stock’s 50 day moving average is $31.62 and its 200-day moving average is $30.46. The company has a market capitalization of $55.40 billion, a P/E ratio of 1400.00 and a beta of 1.69.

The company also recently disclosed a dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Friday, August 12th will be given a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, August 10th.

Several hedge funds and other institutional investors have recently modified their holdings of RIO. State Street Corp increased its position in shares of Rio Tinto PLC by 47.3% in the first quarter. State Street Corp now owns 161,036 shares of the mining company’s stock worth $4,553,000 after buying an additional 51,745 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Rio Tinto PLC by 19.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,569 shares of the mining company’s stock worth $242,000 after buying an additional 1,369 shares during the last quarter. ING Groep NV increased its position in shares of Rio Tinto PLC by 94.6% in the first quarter. ING Groep NV now owns 30,550 shares of the mining company’s stock worth $864,000 after buying an additional 14,850 shares during the last quarter. Huntington Asset Advisors Inc. purchased a new position in shares of Rio Tinto PLC during the first quarter worth about $110,000. Finally, Bessemer Group Inc. increased its position in shares of Rio Tinto PLC by 85.1% in the first quarter. Bessemer Group Inc. now owns 23,287 shares of the mining company’s stock worth $659,000 after buying an additional 10,705 shares during the last quarter. 7.04% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto PLC Company Profile

Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth’s mineral resources. The Company’s segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.

5 Day Chart for NYSE:RIO

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