Shares of Rio Tinto plc (NYSE:RIO) have been given an average rating of “Hold” by the eighteen ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $54.79.
Several equities research analysts recently weighed in on RIO shares. HSBC lowered Rio Tinto from a “buy” rating to a “hold” rating in a research report on Tuesday. Cowen lifted their price target on Rio Tinto from $54.00 to $61.00 and gave the company a “market perform” rating in a research report on Thursday. Citigroup restated a “buy” rating on shares of Rio Tinto in a research report on Thursday, September 28th. Canaccord Genuity lowered Rio Tinto from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Zacks Investment Research lowered Rio Tinto from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th.
Shares of Rio Tinto (RIO) traded down $0.19 during mid-day trading on Friday, hitting $56.05. The stock had a trading volume of 2,510,689 shares, compared to its average volume of 2,720,000. The company has a market cap of $100,220.00, a price-to-earnings ratio of 16.34 and a beta of 1.01. Rio Tinto has a 12-month low of $37.66 and a 12-month high of $57.78. The company has a current ratio of 1.71, a quick ratio of 1.34 and a debt-to-equity ratio of 0.31.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zions Bancorporation boosted its position in shares of Rio Tinto by 2,992.2% during the third quarter. Zions Bancorporation now owns 2,381 shares of the mining company’s stock valued at $112,000 after purchasing an additional 2,304 shares in the last quarter. Acrospire Investment Management LLC raised its stake in Rio Tinto by 13.0% during the second quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock valued at $110,000 after buying an additional 299 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Rio Tinto by 212.1% during the second quarter. The Manufacturers Life Insurance Company now owns 3,187 shares of the mining company’s stock valued at $135,000 after buying an additional 2,166 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Rio Tinto by 120.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,753 shares of the mining company’s stock valued at $159,000 after buying an additional 2,048 shares during the last quarter. Finally, Adviser Investments LLC purchased a new position in Rio Tinto during the third quarter valued at $207,000. Institutional investors own 7.24% of the company’s stock.
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Rio Tinto Company Profile
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.
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