Rio Tinto plc (RIO) Upgraded to "Buy" by Societe Generale

RIO has been the subject of several other reports. Jennison Associates LLC grew its holdings in shares of Rio Tinto PLC by 35.7% during the third quarter. Stevens Capital Management LP bought a new position in Rio Tinto PLC during the third quarter worth about $1,755,000. DekaBank Deutsche Girozentrale bought a new position in Rio Tinto PLC during the third quarter worth about $4,321,000. 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 in the last quarter. Bremer Trust National Association grew its holdings in shares of Rio Tinto PLC by 20.2% during the third quarter. BlackRock Fund Advisors now owns 254,882 shares of the mining company's stock worth $8,513,000 after buying an additional 17,065 shares during the last quarter. BlackRock Inc. increased its position in Rio Tinto PLC by 9.5% in the third quarter. 1,924,138 shares of the company's stock were exchanged.

COPYRIGHT VIOLATION WARNING: This article was first posted by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and global copyright & trademark laws. The legal version of this piece of content can be viewed at https://baseballnewssource.com/markets/rio-tinto-plc-rio-upgraded-to-buy-by-societe-generale/1770660.html. Rio Tinto has recorded a 50-day average of $48.36 and a two hundred day average of $43.88.

In order to tell which way a stock is trending, the stock's share price should be compared to its moving average. Rio Tinto plc has a 52-week low of GBX 2,882.50 ($37.91) and a 52-week high of GBX 3,831.50 ($50.39). The company has a current ratio of 1.71, a quick ratio of 1.34 and a debt-to-equity ratio of 0.31. (The) reiterated a "neutral" rating on shares of Rio Tinto PLC in a report on Monday, August 14th.

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Let's take a look at how the stock has been performing recently. Credit Suisse Group AG raised shares of Rio Tinto PLC from a "neutral" rating to an "outperform" rating in a research note on Wednesday, December 7th.

Boasting a price of $47.93, Rio Tinto (NYSE:RIO) traded 0.50% higher on the day. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The brokerage now has GBX 4,400 ($57.87) target price on the stock, up from their prior target price of GBX 3,600 ($47.35).

As previously indicated, Rio Tinto PLC has entered into a separate non-discretionary irrevocable instruction for an aggregate maximum consideration of up to USD300 million for the period between December 27 and February 28, 2018 as part of the on-market portion of the programme. The Company focuses on finding, mining, processing and marketing the Earth's mineral resources. The Company's segments include aluminum, copper and coal, diamonds and minerals, and iron ore.

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