Rio Tinto PLC (NYSE:RIO) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Rio Tinto PLC (NYSE:RIO) from a strong sell rating to a hold rating in a research note issued to investors on Saturday, August 5th.

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. “

Several other research analysts have also weighed in on RIO. Cowen and Company set a $47.00 target price on shares of Rio Tinto PLC and gave the stock a hold rating in a research note on Wednesday, August 2nd. BidaskClub raised shares of Rio Tinto PLC from a buy rating to a strong-buy rating in a research note on Wednesday, July 12th. Axiom Securities reissued a sell rating on shares of Rio Tinto PLC in a research note on Thursday, July 13th. BNP Paribas raised shares of Rio Tinto PLC from a neutral rating to an outperform rating in a report on Thursday, April 20th. Finally, ValuEngine cut shares of Rio Tinto PLC from a strong-buy rating to a buy rating in a report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $43.00.

Shares of Rio Tinto PLC (RIO) traded up 0.72% on Friday, reaching $44.64. 1,906,551 shares of the company traded hands. Rio Tinto PLC has a 1-year low of $29.62 and a 1-year high of $48.03. The firm has a market capitalization of $80.04 billion, a P/E ratio of 13.01 and a beta of 0.98. The stock has a 50-day moving average price of $45.16 and a 200 day moving average price of $42.11.

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

Several large investors have recently modified their holdings of RIO. Knowledge Leaders Capital LLC raised its stake in shares of Rio Tinto PLC by 126.0% in the second quarter. Knowledge Leaders Capital LLC now owns 2,393 shares of the mining company’s stock valued at $101,000 after buying an additional 1,334 shares during the last quarter. Acrospire Investment Management LLC increased its position in Rio Tinto PLC by 13.0% in the second quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock valued at $110,000 after buying an additional 299 shares during the period. Quantbot Technologies LP purchased a new position in Rio Tinto PLC during the first quarter valued at about $111,000. Hudock Capital Group LLC increased its position in Rio Tinto PLC by 125.4% in the second quarter. Hudock Capital Group LLC now owns 2,795 shares of the mining company’s stock valued at $118,000 after buying an additional 1,555 shares during the period. Finally, UBS Asset Management Americas Inc. purchased a new position in Rio Tinto PLC during the fourth quarter valued at about $119,000. Institutional investors own 7.22% of the company’s stock.

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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