BNP Paribas upgraded shares of Rio Tinto plc (NYSE:RIO) from a neutral rating to an outperform rating in a research note released on Thursday.

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A number of other equities analysts have also recently issued reports on the stock. Citigroup Inc raised shares of Rio Tinto plc from a neutral rating to a buy rating in a report on Thursday. Zacks Investment Research raised shares of Rio Tinto plc from a hold rating to a strong-buy rating and set a $47.00 target price on the stock in a report on Wednesday, April 12th. Axiom Securities reissued a sell rating on shares of Rio Tinto plc in a report on Thursday, March 16th. Sanford C. Bernstein reissued an outperform rating on shares of Rio Tinto plc in a report on Thursday, February 9th. Finally, Jefferies Group LLC reissued a buy rating on shares of Rio Tinto plc in a report on Thursday, January 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Rio Tinto plc presently has an average rating of Buy and an average price target of $41.86.

Analyst Recommendations for Rio Tinto plc (NYSE:RIO)

Shares of Rio Tinto plc (NYSE:RIO) traded down 0.15% during mid-day trading on Thursday, reaching $39.51. The company’s stock had a trading volume of 1,936,057 shares. The firm has a 50-day moving average of $40.72 and a 200-day moving average of $39.60. The firm has a market capitalization of $71.08 billion, a PE ratio of 15.48 and a beta of 1.19. Rio Tinto plc has a 52 week low of $26.95 and a 52 week high of $47.11.

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The firm also recently declared a semiannual dividend, which was paid on Thursday, April 6th. Shareholders of record on Friday, February 24th were given a $1.2582 dividend. This is a positive change from Rio Tinto plc’s previous semiannual dividend of $0.96. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a yield of 5.54%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in Rio Tinto plc by 6.5% in the third quarter. PNC Financial Services Group Inc. now owns 24,046 shares of the mining company’s stock valued at $802,000 after buying an additional 1,467 shares during the period. Bank of New York Mellon Corp raised its position in Rio Tinto plc by 53.3% in the third quarter. Bank of New York Mellon Corp now owns 309,673 shares of the mining company’s stock valued at $10,343,000 after buying an additional 107,628 shares during the period. NEXT Financial Group Inc raised its position in Rio Tinto plc by 157.7% in the third quarter. NEXT Financial Group Inc now owns 15,574 shares of the mining company’s stock valued at $520,000 after buying an additional 9,530 shares during the period. LMR Partners LLP acquired a new position in Rio Tinto plc during the third quarter valued at about $3,852,000. Finally, Quantbot Technologies LP raised its position in Rio Tinto plc by 423.3% in the third quarter. Quantbot Technologies LP now owns 72,711 shares of the mining company’s stock valued at $2,428,000 after buying an additional 58,817 shares during the period. Hedge funds and other institutional investors own 6.63% 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.

5 Day Chart for NYSE:RIO

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