FY2017 EPS Estimates for Rio Tinto plc Lifted by Analyst (RIO)

Rio Tinto plc (NYSE:RIO) – Equities research analysts at Jefferies Group upped their FY2017 earnings estimates for shares of Rio Tinto in a report issued on Friday. Jefferies Group analyst C. Lafemina now forecasts that the mining company will post earnings of $5.03 per share for the year, up from their previous estimate of $4.72. Jefferies Group currently has a “Buy” rating and a $55.00 target price on the stock. Jefferies Group also issued estimates for Rio Tinto’s FY2018 earnings at $4.79 EPS, FY2019 earnings at $4.84 EPS and FY2020 earnings at $5.08 EPS.

RIO has been the subject of a number of other research reports. Royal Bank of Canada cut Rio Tinto from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $47.87 to $48.37 in a research report on Monday, October 23rd. JPMorgan Chase & Co. cut Rio Tinto from an “overweight” rating to a “neutral” rating in a research report on Monday, November 13th. Zacks Investment Research cut Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, December 13th. Citigroup cut Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 17th. Finally, Clarkson Capital cut Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Monday, October 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $51.59.

Rio Tinto (NYSE:RIO) opened at $55.74 on Monday. Rio Tinto has a one year low of $37.66 and a one year high of $56.14. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $98,940.00, a price-to-earnings ratio of 16.25 and a beta of 1.01.

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in Rio Tinto by 16.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,503,490 shares of the mining company’s stock valued at $118,140,000 after purchasing an additional 353,835 shares during the period. Jennison Associates LLC grew its holdings in Rio Tinto by 35.7% during the third quarter. Jennison Associates LLC now owns 2,139,716 shares of the mining company’s stock valued at $100,973,000 after purchasing an additional 563,461 shares during the period. Van ECK Associates Corp grew its holdings in Rio Tinto by 237.3% during the third quarter. Van ECK Associates Corp now owns 1,280,538 shares of the mining company’s stock valued at $60,429,000 after purchasing an additional 900,859 shares during the period. Northern Trust Corp grew its holdings in Rio Tinto by 0.8% during the second quarter. Northern Trust Corp now owns 1,166,895 shares of the mining company’s stock valued at $49,372,000 after purchasing an additional 9,809 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Rio Tinto by 124.2% during the third quarter. Russell Investments Group Ltd. now owns 1,092,553 shares of the mining company’s stock valued at $51,543,000 after purchasing an additional 605,170 shares during the period. 7.24% of the stock is owned by institutional investors and hedge funds.

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About Rio Tinto

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.

Earnings History and Estimates for Rio Tinto (NYSE:RIO)

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