Rio Tinto PLC (NYSE:RIO) – Jefferies Group raised their FY2018 earnings per share (EPS) estimates for shares of Rio Tinto in a research note issued on Monday. Jefferies Group analyst C. Lafemina now anticipates that the mining company will post earnings of $4.76 per share for the year, up from their previous estimate of $4.75. Jefferies Group has a “Buy” rating and a $55.00 price objective on the stock. Jefferies Group also issued estimates for Rio Tinto’s FY2019 earnings at $4.92 EPS and FY2020 earnings at $5.13 EPS.

Other analysts have also issued reports about the company. Cowen set a $47.00 price objective on Rio Tinto and gave the company a “hold” rating in a research note on Monday, October 16th. Goldman Sachs Group reiterated a “neutral” rating on shares of Rio Tinto in a research note on Monday, August 14th. Citigroup reiterated a “buy” rating on shares of Rio Tinto in a research note on Tuesday. Societe Generale upgraded Rio Tinto from a “hold” rating to a “buy” rating in a research note on Wednesday, November 8th. Finally, Canaccord Genuity lowered Rio Tinto from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $51.59.

Rio Tinto (RIO) traded up $0.25 during trading hours on Wednesday, hitting $47.45. The company had a trading volume of 3,001,200 shares, compared to its average volume of 3,258,036. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.34 and a current ratio of 1.71. Rio Tinto has a 12 month low of $37.66 and a 12 month high of $50.77.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. HPM Partners LLC increased its stake in Rio Tinto by 1.3% in the 2nd quarter. HPM Partners LLC now owns 10,211 shares of the mining company’s stock worth $432,000 after acquiring an additional 132 shares during the last quarter. Moors & Cabot Inc. increased its stake in Rio Tinto by 2.7% in the 2nd quarter. Moors & Cabot Inc. now owns 9,997 shares of the mining company’s stock worth $425,000 after acquiring an additional 264 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Rio Tinto by 2.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,821 shares of the mining company’s stock worth $500,000 after acquiring an additional 281 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Rio Tinto by 13.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock worth $110,000 after acquiring an additional 299 shares during the last quarter. Finally, Bourgeon Capital Management LLC increased its stake in Rio Tinto by 0.4% in the 2nd quarter. Bourgeon Capital Management LLC now owns 71,925 shares of the mining company’s stock worth $3,043,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 7.19% 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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