Rio Tinto plc ADR (NYSE:RIO) has been assigned a consensus rating of “Hold” from the twenty-two brokerages that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $64.41.
Several research firms have recently issued reports on RIO. CLSA lowered shares of Rio Tinto from an “outperform” rating to an “underperform” rating in a report on Thursday, February 7th. Bank of America lowered shares of Rio Tinto from a “neutral” rating to an “underperform” rating in a report on Thursday, February 28th. Societe Generale lowered shares of Rio Tinto from a “hold” rating to a “sell” rating and set a $55.23 target price for the company. in a report on Thursday, March 7th. JPMorgan Chase & Co. lowered shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, February 4th. Finally, BNP Paribas lowered shares of Rio Tinto from a “neutral” rating to an “underperform” rating in a report on Wednesday, April 10th.
RIO traded down $0.33 on Monday, hitting $62.45. The company had a trading volume of 205,948 shares, compared to its average volume of 3,486,045. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.98 and a quick ratio of 1.65. Rio Tinto has a 52-week low of $44.62 and a 52-week high of $63.27. The firm has a market capitalization of $79.85 billion, a PE ratio of 12.31 and a beta of 0.84.
Institutional investors and hedge funds have recently made changes to their positions in the stock. First Bank & Trust bought a new stake in shares of Rio Tinto during the first quarter valued at approximately $29,000. Berman Capital Advisors LLC purchased a new position in shares of Rio Tinto during the 4th quarter worth $25,000. Doyle Wealth Management purchased a new position in shares of Rio Tinto during the 4th quarter worth $39,000. Financial Gravity Companies Inc. purchased a new position in shares of Rio Tinto during the 4th quarter worth $46,000. Finally, Legacy Advisors LLC purchased a new position in shares of Rio Tinto during the 1st quarter worth $74,000. 7.89% of the stock is owned by institutional investors.
About Rio Tinto
Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, iron ore, thermal and metallurgical coal, and uranium, as well as industrial minerals, such as borates, titanium dioxide, and salt.
Featured Story: What is Cost of Debt?
Receive News & Ratings for Rio Tinto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto and related companies with MarketBeat.com's FREE daily email newsletter.