Todays Report: Today, Rio Tinto PLC (RIO) Given Sell Rating at Axiom Securities

Today, Rio Tinto PLC (RIO) Given Sell Rating at Axiom Securities

Rio Tinto PLC (NYSE:RIO)‘s stock had its “sell” rating restated by investment analysts at Axiom Securities in a research note issued to investors on Saturday.

Several other equities analysts also recently weighed in on the company. CIBC raised Rio Tinto PLC from a “sector underperform” rating to a “sector perform” rating in a research report on Thursday, September 29th. Deutsche Bank AG reiterated a “buy” rating on shares of Rio Tinto PLC in a research note on Thursday, August 18th. Citigroup Inc. cut Rio Tinto PLC from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 12th. Royal Bank Of Canada upgraded Rio Tinto PLC from a “sector perform” rating to an “outperform” rating in a research note on Thursday, September 8th. Finally, Argus reiterated a “buy” rating and issued a $36.00 price objective on shares of Rio Tinto PLC in a research note on Tuesday, August 30th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. Rio Tinto PLC currently has an average rating of “Hold” and a consensus price target of $35.56.

Rio Tinto PLC (NYSE:RIO) opened at 39.35 on Friday. The company has a 50-day moving average of $35.23 and a 200 day moving average of $31.98. Rio Tinto PLC has a one year low of $21.89 and a one year high of $40.19. The firm has a market cap of $70.78 billion, a P/E ratio of 1788.64 and a beta of 1.27.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RIO. Accident Compensation Corp raised its position in Rio Tinto PLC by 17.9% in the third quarter. Accident Compensation Corp now owns 85,800 shares of the mining company’s stock worth $2,866,000 after buying an additional 13,000 shares during the last quarter. ETRADE Capital Management LLC bought a new position in Rio Tinto PLC during the third quarter worth about $250,000. LPL Financial LLC raised its position in Rio Tinto PLC by 2.7% in the third quarter. LPL Financial LLC now owns 10,930 shares of the mining company’s stock worth $362,000 after buying an additional 284 shares during the last quarter. Credit Suisse AG raised its position in Rio Tinto PLC by 2,738.9% in the third quarter. Credit Suisse AG now owns 1,756,844 shares of the mining company’s stock worth $58,678,000 after buying an additional 1,694,960 shares during the last quarter. Finally, Salem Investment Counselors Inc. bought a new position in Rio Tinto PLC during the third quarter worth about $182,000. 6.91% of the stock is currently owned by institutional investors and hedge funds.

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