Rio Tinto plc (NYSE:RIO) – Jefferies Group lifted their FY2017 earnings estimates for Rio Tinto in a research report issued on Friday. Jefferies Group analyst C. Lafemina now anticipates that the mining company will post earnings of $5.03 per share for the year, up from their previous forecast of $4.72. Jefferies Group has a “Buy” rating and a $55.00 price objective on the stock. Jefferies Group also issued estimates for Rio Tinto’s FY2018 earnings at $4.79 EPS, FY2019 earnings at $4.84 EPS and FY2020 earnings at $5.08 EPS.

RIO has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a research report on Monday, November 13th. Citigroup reiterated a “buy” rating on shares of Rio Tinto in a research report on Tuesday, December 5th. Royal Bank of Canada lowered shares of Rio Tinto from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $47.87 to $48.37 in a research report on Monday, October 23rd. Cowen set a $47.00 target price on shares of Rio Tinto and gave the company a “hold” rating in a research report on Monday, October 16th. Finally, Zacks Investment Research upgraded shares of Rio Tinto from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $51.59.

Rio Tinto (NYSE RIO) opened at $54.54 on Monday. The company has a market cap of $97,870.00, a PE ratio of 15.90 and a beta of 1.01. The company has a current ratio of 1.71, a quick ratio of 1.34 and a debt-to-equity ratio of 0.31. Rio Tinto has a 12-month low of $37.66 and a 12-month high of $55.00.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd boosted its position in shares of Rio Tinto by 18.8% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 9,500 shares of the mining company’s stock valued at $402,000 after purchasing an additional 1,503 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Rio Tinto by 124.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,092,553 shares of the mining company’s stock valued at $51,543,000 after purchasing an additional 605,170 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Rio Tinto by 23.5% during the 3rd quarter. Private Advisor Group LLC now owns 15,436 shares of the mining company’s stock valued at $740,000 after purchasing an additional 2,936 shares in the last quarter. AlphaStar Capital Management LLC bought a new position in shares of Rio Tinto during the 3rd quarter valued at about $288,000. Finally, FNY Partners Fund LP boosted its position in shares of Rio Tinto by 87.4% during the 2nd quarter. FNY Partners Fund LP now owns 98,967 shares of the mining company’s stock valued at $4,187,000 after purchasing an additional 46,169 shares in the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

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Rio Tinto 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 (NYSE:RIO)

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