FY2027 EPS Estimates for Rio Tinto Decreased by Analyst

Rio Tinto PLC (NYSE:RIO) – Investment analysts at Erste Group Bank dropped their FY2027 earnings per share (EPS) estimates for Rio Tinto in a research note issued to investors on Tuesday, May 5th. Erste Group Bank analyst S. Lingnau now forecasts that the mining company will post earnings per share of $8.31 for the year, down from their prior estimate of $8.34. Erste Group Bank currently has a “Buy” rating on the stock. The consensus estimate for Rio Tinto’s current full-year earnings is $8.56 per share.

Several other equities analysts also recently issued reports on the stock. Citigroup reissued a “neutral” rating on shares of Rio Tinto in a report on Monday, April 13th. Argus set a $120.00 price objective on shares of Rio Tinto in a report on Monday, April 27th. Sanford C. Bernstein lifted their target price on shares of Rio Tinto from $82.00 to $83.50 and gave the company an “outperform” rating in a research note on Monday, April 27th. Morgan Stanley downgraded Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 28th. Finally, Barclays lowered Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 24th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, Rio Tinto currently has a consensus rating of “Hold” and a consensus price target of $101.75.

Rio Tinto Trading Up 2.3%

RIO opened at $107.82 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $95.07 and its 200-day simple moving average is $86.26. Rio Tinto has a twelve month low of $55.64 and a twelve month high of $108.43.

Hedge Funds Weigh In On Rio Tinto

A number of institutional investors have recently modified their holdings of RIO. Cubist Systematic Strategies LLC acquired a new position in shares of Rio Tinto during the first quarter worth approximately $84,000. AQR Capital Management LLC increased its holdings in shares of Rio Tinto by 78.4% in the first quarter. AQR Capital Management LLC now owns 12,087 shares of the mining company’s stock valued at $726,000 after purchasing an additional 5,310 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Rio Tinto by 20.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,485 shares of the mining company’s stock worth $690,000 after purchasing an additional 1,968 shares during the last quarter. Empowered Funds LLC lifted its holdings in Rio Tinto by 5.8% during the 1st quarter. Empowered Funds LLC now owns 5,280 shares of the mining company’s stock worth $317,000 after buying an additional 288 shares in the last quarter. Finally, Focus Partners Wealth boosted its position in Rio Tinto by 16.7% in the 1st quarter. Focus Partners Wealth now owns 15,985 shares of the mining company’s stock valued at $962,000 after buying an additional 2,285 shares during the last quarter. 19.33% of the stock is owned by institutional investors.

Rio Tinto Announces Dividend

The business also recently disclosed a dividend, which was paid on Thursday, April 16th. Shareholders of record on Friday, March 6th were issued a dividend of $2.54 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a yield of 564.0%.

About Rio Tinto

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.