The Rio Tinto PLC (RIO) Lowered to “Sell” at Citigroup Inc.

The Rio Tinto PLC (RIO) Lowered to “Sell” at Citigroup Inc.

Citigroup Inc. cut shares of Rio Tinto PLC (NYSE:RIO) from a neutral rating to a sell rating in a report published on Wednesday morning.

A number of other equities analysts have also issued reports on RIO. JPMorgan Chase & Co. restated a buy rating on shares of Rio Tinto PLC in a research note on Wednesday, June 22nd. Deutsche Bank AG restated a buy rating on shares of Rio Tinto PLC in a research note on Wednesday, June 22nd. Vetr lowered Rio Tinto PLC from a strong-buy rating to a buy rating and set a $34.00 target price for the company. in a research note on Thursday, June 23rd. Goldman Sachs Group Inc. upgraded Rio Tinto PLC from a sell rating to a neutral rating in a research note on Monday, June 27th. Finally, Argus restated a buy rating and issued a $36.00 target price on shares of Rio Tinto PLC in a research note on Monday, June 27th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. Rio Tinto PLC presently has an average rating of Hold and an average target price of $34.44.

Shares of Rio Tinto PLC (NYSE:RIO) traded down 4.15% during trading on Wednesday, reaching $31.45. The company’s stock had a trading volume of 2,182,966 shares. The stock has a market cap of $56.57 billion, a price-to-earnings ratio of 1429.55 and a beta of 1.47. The company has a 50 day moving average of $31.87 and a 200-day moving average of $30.92. Rio Tinto PLC has a 12-month low of $21.89 and a 12-month high of $39.27.

The company also recently declared a dividend, which was paid on Thursday, September 22nd. Stockholders of record on Friday, August 12th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, August 10th.

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning raised its stake in Rio Tinto PLC by 21.4% in the second quarter. Creative Planning now owns 15,260 shares of the mining company’s stock valued at $478,000 after buying an additional 2,685 shares during the last quarter. NEXT Financial Group Inc raised its stake in Rio Tinto PLC by 979.3% in the second quarter. NEXT Financial Group Inc now owns 6,044 shares of the mining company’s stock valued at $189,000 after buying an additional 5,484 shares during the last quarter. LPL Financial LLC raised its stake in Rio Tinto PLC by 20.8% in the first quarter. LPL Financial LLC now owns 46,173 shares of the mining company’s stock valued at $1,261,000 after buying an additional 7,964 shares during the last quarter. Springbok Capital Management LLC purchased a new stake in Rio Tinto PLC during the first quarter valued at approximately $935,000. Finally, Envestnet Asset Management Inc. raised its stake in Rio Tinto PLC by 25.9% in the first quarter. Envestnet Asset Management Inc. now owns 85,598 shares of the mining company’s stock valued at $2,420,000 after buying an additional 17,592 shares during the last quarter. 6.74% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto PLC Company Profile

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