HSBC Lowers Rio Tinto (RIO) to Hold

HSBC cut shares of Rio Tinto (NYSE:RIO) from a buy rating to a hold rating in a research report report published on Tuesday, January 16th, The Fly reports.

Several other brokerages have also issued reports on RIO. Jefferies Group set a $55.00 price target on shares of Rio Tinto and gave the company a buy rating in a report on Thursday, October 5th. Zacks Investment Research raised shares of Rio Tinto from a hold rating to a strong-buy rating and set a $56.00 target price for the company in a research note on Saturday, October 7th. Clarkson Capital lowered shares of Rio Tinto from a buy rating to a neutral rating in a research note on Monday, October 16th. Societe Generale raised shares of Rio Tinto from a hold rating to a buy rating in a research report on Wednesday, November 8th. Finally, Canaccord Genuity cut shares of Rio Tinto from a buy rating to a hold rating in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Rio Tinto presently has an average rating of Hold and an average target price of $55.09.

Rio Tinto (NYSE:RIO) traded up $1.45 on Tuesday, reaching $53.72. 5,096,656 shares of the company’s stock were exchanged, compared to its average volume of 3,060,000. Rio Tinto has a 12-month low of $37.66 and a 12-month high of $57.78. The firm has a market cap of $94,820.00, a price-to-earnings ratio of 11.01 and a beta of 1.09. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 0.30.

The firm also recently announced a semiannual dividend, which will be paid on Thursday, April 12th. Shareholders of record on Friday, March 2nd will be given a dividend of $1.7955 per share. This represents a dividend yield of 6.68%. The ex-dividend date is Thursday, March 1st. This is a positive change from Rio Tinto’s previous semiannual dividend of $1.26. Rio Tinto’s dividend payout ratio is presently 48.57%.

Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of Rio Tinto by 16.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,503,490 shares of the mining company’s stock worth $118,140,000 after acquiring an additional 353,835 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Rio Tinto by 35.7% during the 3rd quarter. Jennison Associates LLC now owns 2,139,716 shares of the mining company’s stock worth $100,973,000 after acquiring an additional 563,461 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Rio Tinto by 237.3% during the 3rd quarter. Van ECK Associates Corp now owns 1,280,538 shares of the mining company’s stock worth $60,429,000 after acquiring an additional 900,859 shares in the last quarter. Northern Trust Corp boosted its position in shares of Rio Tinto by 0.8% during the 2nd quarter. Northern Trust Corp now owns 1,166,895 shares of the mining company’s stock worth $49,372,000 after acquiring an additional 9,809 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Rio Tinto by 124.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,092,553 shares of the mining company’s stock worth $51,543,000 after acquiring an additional 605,170 shares in the last quarter. Hedge funds and other institutional investors own 7.25% 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.

The Fly

Analyst Recommendations for Rio Tinto (NYSE:RIO)

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