Rio Tinto plc ADR (NYSE:RIO) has earned a consensus recommendation of “Hold” from the twenty-six brokerages that are currently covering the firm, Marketbeat reports. Six analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $57.00.
A number of research firms have recently issued reports on RIO. JPMorgan Chase & Co. downgraded shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a research report on Tuesday, December 17th. UBS Group reiterated a “neutral” rating on shares of Rio Tinto in a report on Wednesday, January 8th. Clarkson Capital reiterated a “neutral” rating on shares of Rio Tinto in a report on Monday, September 23rd. Fundamental Research reiterated a “buy” rating on shares of Rio Tinto in a report on Tuesday, October 29th. Finally, Jefferies Financial Group upgraded Rio Tinto from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Friday, October 11th.
Shares of RIO stock traded up $1.52 during midday trading on Wednesday, reaching $60.67. 1,762,105 shares of the company traded hands, compared to its average volume of 1,126,603. The firm’s 50 day simple moving average is $57.90 and its two-hundred day simple moving average is $54.74. Rio Tinto has a 1-year low of $47.88 and a 1-year high of $64.02. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.55 and a quick ratio of 1.22. The firm has a market cap of $77.17 billion, a PE ratio of 11.97 and a beta of 0.90.
Hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc grew its position in shares of Rio Tinto by 26.4% during the 4th quarter. IFP Advisors Inc now owns 843 shares of the mining company’s stock worth $50,000 after buying an additional 176 shares during the period. Keybank National Association OH raised its stake in shares of Rio Tinto by 1.1% during the 3rd quarter. Keybank National Association OH now owns 16,535 shares of the mining company’s stock worth $861,000 after purchasing an additional 183 shares during the period. One Wealth Advisors LLC raised its stake in shares of Rio Tinto by 4.6% during the 2nd quarter. One Wealth Advisors LLC now owns 6,698 shares of the mining company’s stock worth $418,000 after purchasing an additional 294 shares during the period. CWM LLC raised its stake in shares of Rio Tinto by 148.4% during the 3rd quarter. CWM LLC now owns 554 shares of the mining company’s stock worth $29,000 after purchasing an additional 331 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of Rio Tinto during the 2nd quarter worth $25,000. 7.32% of the stock is owned by institutional investors.
Rio Tinto Company Profile
Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.
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