Economy

Rio Tinto plc (RIO) Rating Reiterated by Royal Bank of Canada

Rio Tinto plc (RIO) Rating Reiterated by Royal Bank of Canada”

A number of institutional investors have recently made changes to their positions in RIO. The company's market cap is GBX 62.27 billion. The stock increased 0.51% or $0.24 on September 29, reaching $47.19. About 2.24M shares traded. United Rentals, Inc. (NYSE:URI) has risen 71.76% since October 1, 2016 and is uptrending. It has underperformed by 29.77% the S&P500. Credit Suisse Group reissued an "outperform" recommendation on stocks of Rio Tinto in a study note on early Tue, Jun 27th. Riverpoint Capital Management Llc sold 281,949 shares as the company's stock declined 9.05% while stock markets rallied. The stock increased 0.56% or $0.77 on September 29, reaching $138.74. About 1.55 million shares traded. The institutional investor held 47,817 shares of the precious metals company at the end of 2017Q2, valued at $2.02 million, down from 329,766 at the end of the previous reported quarter. It has outperformed by 55.06% the S&P500. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. Therefore 70% are positive. The rating was maintained by Beaufort Securities with "Buy" on Friday, February 12. On Thursday, December 3 the stock rating was downgraded by Argus Research to "Hold". The firm has "Buy" rating by UBS given on Tuesday, July 25. State Street Corp reported 5.84M shares. The company was maintained on Monday, January 11 by Haitong Securities. The firm has "Buy" rating by Bank of America given on Friday, June 30.

Investors sentiment decreased to 0.93 in Q2 2017. Its up 0.30, from 0.93 in 2017Q1. Westport Asset Mngmt holds 1.94% or 20,000 shares in its portfolio. Zweig holds 0.79% or 96,084 shares. Pinnacle Associates Limited stated it has 109,383 shares. Raymond James And reported 384,140 shares stake. Stock Yards Natl Bank And Tru has 11,965 shares for 0.08% of their portfolio. Hl Limited Company owns 58,356 shares or 0.02% of their U.S. portfolio. Reliance Tru Com Of Delaware accumulated 0.03% or 1,835 shares. Moreover, First Midwest Bancorporation Trust Division has 0.09% invested in VF Corp (NYSE:VFC) for 13,221 shares. Axa invested in 328,133 shares.

The business also recently declared a None dividend, which was paid on Thursday, September 21st. More interesting news about Kinder Morgan Inc (NYSE:KMI) were released by: Seekingalpha.com and their article: "Kinder Morgan: Buy While It's Still Cheap" published on September 29, 2017 as well as Seekingalpha.com's news article titled: "Kinder Morgan: Contrarian Dividend Play" with publication date: September 23, 2017.

Many other brokerage firms lately commented on RIO. V.F. Corp had 79 analyst reports since July 24, 2015 according to SRatingsIntel.

Rio Tinto plc (LON RIO) opened at 3473.00 on Friday. The rating was upgraded by CLSA on Friday, April 7 to "Buy". Cowen & Co maintained the stock with "Hold" rating in Monday, August 14 report. The firm has "Outperform" rating by RBC Capital Markets given on Thursday, September 8. With 3.32 million avg volume, 4 days are for Rio Tinto Plc (NYSE:RIO)'s short sellers to cover RIO's short positions. Adage Cap Ptnrs Group Inc Lc accumulated 169,865 shares or 0.05% of the stock. Royal Bank Of Canada set a GBX 4,200 ($56.48) target price on shares of Rio Tinto plc and gave the stock a buy rating in a research note on Thursday, June 29th. (NYSE:URI) for 13,525 shares. It also reduced its holding in Ishares Core S&P Mid (IJH) by 3,523 shares in the quarter, leaving it with 44,162 shares, and cut its stake in Discover Finl Svcs (NYSE:DFS).



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