Want to see what other hedge funds are holding RIO? Finally, CKW Financial Group purchased a new position in shares of Rio Tinto PLC during the first quarter valued at approximately $163,000.
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%. Finally, Macquarie reiterated an "outperform" rating and issued a GBX 4,100 ($54.08) price objective on shares of Rio Tinto plc in a report on Friday, May 12th. The stock was bought at an average price of GBX 3,501 ($46.18) per share, with a total value of £385.11 ($507.99).
A number of analysts have recently commented on the stock. The original version of this report can be accessed at https://www.baseball-news-blog.com/2017/08/01/rio-tinto-plc-rio-pt-set-at-gbx-2900-by-goldman-sachs-group-inc-the-updated.html. The firm owned 877,563 shares of the mining company's stock after buying an additional 415,632 shares during the period. Bank of America Corp DE raised its stake in shares of Rio Tinto PLC by 27.8% in the first quarter.
The stock was down 2.2 percent in early deals Wednesday. The stock presently has a consensus rating of "Buy" and a consensus target price of $40.17.
Midas Management Corp continued to hold its stake in Rio Tinto PLC (NYSE:RIO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC).
COPYRIGHT VIOLATION NOTICE: "UBS AG Reiterates "GBX 3,700" Price Target for Rio Tinto plc (RIO)" was originally reported by TheOlympiaReport and is owned by of TheOlympiaReport. Huntington National Bank raised its stake in shares of Rio Tinto PLC by 167.1% in the first quarter. The company has a 50 day moving average of GBX 3,305.60 and a 200-day moving average of GBX 3,284.98.
Shareholder returns amount to around 75 per cent of underlying earnings in the first half of the year, the company said. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.
Rio Tinto declared a record-high half-year dividend of $1.10 a share, equivalent to $2 billion, up from 45 cents a share a year ago. The stock now pays a dividend of 3.9% with a market cap of $83.31 Billion. This indicates that it offers a wide margin of safety at a time when a number of mining companies have seen their valuations rise during the course of the previous year. The Company's segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations.
"I don't think there is anything permanent about this, it is steel mills working to optimise their business so it comes back to supply demand dynamics in steel and the supply demand dynamics in iron ore", Mr Power said.style="text-align: center;"