Rio Tinto (RIO) Earns Sell Rating from Analysts at Vertical Group

Vertical Group started coverage on shares of Rio Tinto (NYSE:RIO) in a research report released on Monday, MarketBeat reports. The firm issued a sell rating and a $41.00 price objective on the mining company’s stock.

RIO has been the subject of a number of other research reports. HSBC downgraded shares of Rio Tinto from a buy rating to a hold rating in a report on Tuesday, January 16th. UBS restated a buy rating on shares of Rio Tinto in a report on Monday, March 5th. Argus raised their price objective on shares of Rio Tinto to $61.00 and gave the stock a buy rating in a report on Wednesday, February 14th. Jefferies Group set a $69.00 price objective on shares of Rio Tinto and gave the stock a buy rating in a report on Thursday, February 15th. Finally, Cowen restated a market perform rating and set a $61.00 price objective (up previously from $54.00) on shares of Rio Tinto in a report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Rio Tinto currently has an average rating of Hold and an average target price of $55.90.

NYSE RIO opened at $53.14 on Monday. Rio Tinto has a 52-week low of $37.66 and a 52-week high of $59.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.71 and a quick ratio of 1.40. The stock has a market cap of $68,599.15, a P/E ratio of 11.09 and a beta of 1.16.



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 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 (DPR) is currently 23.17%.

Rio Tinto declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the mining company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

A number of large investors have recently modified their holdings of RIO. Zions Bancorporation boosted its position in Rio Tinto by 2,992.2% during the third quarter. Zions Bancorporation now owns 2,381 shares of the mining company’s stock worth $112,000 after purchasing an additional 2,304 shares during the period. The Manufacturers Life Insurance Company boosted its position 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 worth $135,000 after purchasing an additional 2,166 shares during the period. Mackenzie Financial Corp bought a new position in shares of Rio Tinto in the fourth quarter valued at approximately $212,000. Advisor Partners LLC bought a new position in shares of Rio Tinto in the fourth quarter valued at approximately $219,000. Finally, Burney Co. bought a new position in shares of Rio Tinto in the fourth quarter valued at approximately $238,000. Hedge funds and other institutional investors own 7.20% of the company’s stock.

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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.

Analyst Recommendations for Rio Tinto (NYSE:RIO)

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