Todays Report: Today, Rio Tinto plc’s (RIO) Sell Rating Reaffirm at Axiom Securities

Today, Rio Tinto plc’s (RIO) Sell Rating Reaffirm at Axiom Securities

Axiom Securities reaffirmed their sell rating on shares of Rio Tinto plc (NYSE:RIO) in a research note published on Saturday morning.

Other equities analysts have also issued research reports about the stock. Deutsche Bank AG reaffirmed a buy rating on shares of Rio Tinto plc in a research report on Thursday, August 18th. Vetr raised shares of Rio Tinto plc from a hold rating to a buy rating and set a $34.00 price target for the company in a research report on Monday, August 8th. Investec reaffirmed a buy rating on shares of Rio Tinto plc in a research report on Wednesday, August 3rd. Argus reaffirmed a buy rating and set a $36.00 price target on shares of Rio Tinto plc in a research report on Tuesday, August 30th. Finally, Jefferies Group set a $41.00 price target on shares of Rio Tinto plc and gave the stock a buy rating in a research report on Sunday, October 16th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Rio Tinto plc has an average rating of Hold and an average target price of $35.56.

Shares of Rio Tinto plc (NYSE:RIO) opened at 39.35 on Friday. The stock’s 50 day moving average is $35.23 and its 200 day moving average is $31.98. Rio Tinto plc has a 52-week low of $21.89 and a 52-week high of $40.19. The stock has a market capitalization of $70.78 billion, a PE ratio of 1788.64 and a beta of 1.27.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tocqueville Asset Management L.P. increased its position in Rio Tinto plc by 1.9% in the second quarter. Tocqueville Asset Management L.P. now owns 54,822 shares of the mining company’s stock worth $1,716,000 after buying an additional 1,043 shares during the period. Signaturefd LLC boosted its stake in shares of Rio Tinto plc by 29.9% in the second quarter. Signaturefd LLC now owns 3,285 shares of the mining company’s stock worth $103,000 after buying an additional 757 shares during the period. Bank of Montreal Can acquired a new stake in shares of Rio Tinto plc during the second quarter worth $12,394,000. Sigma Planning Corp acquired a new stake in shares of Rio Tinto plc during the second quarter worth $239,000. Finally, Checchi Capital Advisers LLC boosted its stake in shares of Rio Tinto plc by 3.3% in the second quarter. Checchi Capital Advisers LLC now owns 8,333 shares of the mining company’s stock worth $261,000 after buying an additional 268 shares during the period. Hedge funds and other institutional investors own 6.91% of the company’s stock.

Rio Tinto plc Company Profile

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