Rio Tinto PLC (NYSE:RIO) Receives $85.00 Average Price Target from Analysts

Rio Tinto PLC (NYSE:RIO) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $85.00.

Several equities research analysts have recently weighed in on the company. Citigroup reiterated a “hold” rating on shares of Rio Tinto in a report on Monday, November 17th. Morgan Stanley lowered shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Wednesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rio Tinto in a research note on Monday, December 29th. HSBC cut Rio Tinto from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Zacks Research raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th.

Rio Tinto Stock Up 1.8%

NYSE RIO opened at $95.07 on Friday. Rio Tinto has a one year low of $51.67 and a one year high of $97.11. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average price of $80.27 and a 200-day moving average price of $70.28.

Institutional Investors Weigh In On Rio Tinto

Several institutional investors have recently bought and sold shares of the company. Wealth Quarterback LLC lifted its stake in Rio Tinto by 1.8% in the 4th quarter. Wealth Quarterback LLC now owns 6,532 shares of the mining company’s stock worth $523,000 after purchasing an additional 118 shares in the last quarter. IVC Wealth Advisors LLC lifted its position in Rio Tinto by 1.2% in the fourth quarter. IVC Wealth Advisors LLC now owns 10,963 shares of the mining company’s stock valued at $877,000 after buying an additional 129 shares during the last quarter. Mather Group LLC. increased its holdings in Rio Tinto by 4.5% in the 4th quarter. Mather Group LLC. now owns 3,060 shares of the mining company’s stock valued at $245,000 after purchasing an additional 132 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its holdings in shares of Rio Tinto by 2.4% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 5,736 shares of the mining company’s stock valued at $459,000 after buying an additional 137 shares during the period. Finally, Rakuten Securities Inc. grew its holdings in shares of Rio Tinto by 4.0% in the fourth quarter. Rakuten Securities Inc. now owns 3,823 shares of the mining company’s stock valued at $306,000 after purchasing an additional 146 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Company Profile

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.