Rio Tinto PLC (NYSE:RIO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Saturday. The firm currently has a $56.00 price objective on the mining company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 14.10% from the stock’s current price.

According to Zacks, “Rio Tinto PLC is an international mining company. The Company has interests in mining for aluminum, borax, coal, copper, gold, iron ore, lead, silver, tin, uranium, zinc, titanium, dioxide feedstock, diamonds, talc and zircon. RTZ’s various mining operations are located in New Zealand, Australia, South Africa, Europe and Canada. “

Other research analysts also recently issued research reports about the company. Clarkson Capital reissued a “buy” rating on shares of Rio Tinto PLC in a research note on Wednesday, August 2nd. Axiom Securities reissued a “sell” rating on shares of Rio Tinto PLC in a research note on Thursday, July 13th. BidaskClub downgraded Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Citigroup Inc. reissued a “buy” rating on shares of Rio Tinto PLC in a research note on Thursday, September 28th. Finally, Cowen and Company set a $47.00 target price on Rio Tinto PLC and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $50.50.

Shares of Rio Tinto PLC (RIO) opened at 49.08 on Friday. The company has a market cap of $88.00 billion, a price-to-earnings ratio of 14.31 and a beta of 0.95. The firm’s 50-day moving average is $47.94 and its 200-day moving average is $43.33. Rio Tinto PLC has a one year low of $31.24 and a one year high of $49.89.

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Several large investors have recently added to or reduced their stakes in RIO. Knowledge Leaders Capital LLC grew its holdings in shares of Rio Tinto PLC by 126.0% during the second quarter. Knowledge Leaders Capital LLC now owns 2,393 shares of the mining company’s stock worth $101,000 after purchasing an additional 1,334 shares during the last quarter. Acrospire Investment Management LLC grew its holdings in shares of Rio Tinto PLC by 13.0% during the second quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock worth $110,000 after purchasing an additional 299 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Rio Tinto PLC during the first quarter worth about $111,000. Hudock Capital Group LLC grew its holdings in shares of Rio Tinto PLC by 125.4% during the second quarter. Hudock Capital Group LLC now owns 2,795 shares of the mining company’s stock worth $118,000 after purchasing an additional 1,555 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Rio Tinto PLC by 212.1% during the second quarter. The Manufacturers Life Insurance Company now owns 3,187 shares of the mining company’s stock worth $135,000 after purchasing an additional 2,166 shares during the last quarter. Institutional investors own 6.87% of the company’s stock.

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.

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

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