UBS Asset Management Americas Inc. purchased a new position in Rio Tinto PLC during the fourth quarter worth $119,000. Bank of America Corp DE raised its stake in Rio Tinto PLC by 27.8% in the first quarter. Barings LLC purchased a new stake in Rio Tinto PLC during the first quarter valued at about $419,000. Deutsche Bank AG reissued a buy rating and set a GBX 4,140 ($54.61) price target on shares of Rio Tinto plc in a research note on Thursday, May 4th. For the past 5 days of trading, the stock has seen a move of 7.93%. Atlantic Trust Group Llc acquired 43,212 shares as Viper Energy Partners Lp Com Unt Rp (VNOM)'s stock rose 2.39%. The company has a 50-day moving average price of $42.93 and a 200 day moving average price of $41.92.
Rio Tinto shares closed at 3,502 pence each in London Tuesday after falling 0.51% on the session and trimming their year-to-date gain to just over 8%. Rio Tinto plc (ADR) (NYSE:RIO) has risen 43.73% since August 1, 2016 and is uptrending. Stock traders bought 16,413 call options on the stock. The relative volume (ratio between current volume and 3-month average) is presently sitting at 0.82. The legal version of this report can be read at https://transcriptdaily.com/2017/08/01/american-trust-investment-advisors-llc-has-215000-stake-in-rio-tinto-plc-rio.html.
"With debts now firmly back in hand, Rio is in a position to pass the benefits of higher commodity prices back to shareholders, and today highlights the long term dividend paying potential of the mega mining groups". Axiom Securities reiterated a "sell" rating on shares of Rio Tinto PLC in a research report on Tuesday, July 25th. ValuEngine lowered Rio Tinto PLC from a strong-buy rating to a buy rating in a research report on Tuesday, June 20th.
The $US3 billion return to shareholders is made up of the 2017 interim dividend of 110 US cents per share, a jump of 144% and equivalent to a total $US2 billion payout, plus a $US1 billion share buyback.
Analysts reviewing Rio Tinto Plc have recently updated their recommended buy/sell ratings and price targets on the stock.
Among 29 analysts covering Rio Tinto PLC (LON:RIO), 18 have Buy rating, 2 Sell and 9 Hold. The company now has an average rating of "Buy" and an average price target of $40.17.
Revenue from iron ore, Rio's biggest earner was $US8.76 billion for the half year, up from $6.33 billion in the same six month in 2016.
"We continue to have the strongest balance sheet in the sector", said Chief Executive Jean-Sebastien Jacques, who took the helm of the mining company about a year ago.
The U.K. -Australian company has benefited from higher prices for its output, from coal to iron ore, which buoyed revenue and nearly doubled cash flow from its operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.