FY2019 EPS Estimates for Rio Tinto plc ADR Reduced by Analyst (NYSE:RIO)

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Rio Tinto plc ADR (NYSE:RIO) – Equities researchers at Jefferies Financial Group reduced their FY2019 EPS estimates for shares of Rio Tinto in a research report issued on Tuesday, July 9th. Jefferies Financial Group analyst C. Lafemina now anticipates that the mining company will earn $6.91 per share for the year, down from their prior forecast of $7.19.

Several other equities research analysts also recently issued reports on the stock. Vertical Group upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research note on Thursday, April 4th. UBS Group reduced their price objective on shares of Broadcom from $325.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, June 14th. Exane BNP Paribas cut shares of Rio Tinto from a “neutral” rating to an “underperform” rating in a research note on Wednesday, April 10th. Vertical Research upgraded shares of Rio Tinto from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Finally, Liberum Capital upgraded shares of Rio Tinto from a “sell” rating to a “buy” rating in a report on Friday, May 17th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. Rio Tinto presently has an average rating of “Hold” and a consensus price target of $61.58.

RIO stock opened at $60.85 on Wednesday. The company has a fifty day moving average of $60.29. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 1.98. The firm has a market cap of $77.26 billion, a P/E ratio of 12.00 and a beta of 0.81. Rio Tinto has a twelve month low of $44.62 and a twelve month high of $64.02.

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Rio Tinto by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,785,726 shares of the mining company’s stock worth $135,052,000 after acquiring an additional 13,612 shares in the last quarter. Bank of America Corp DE increased its position in shares of Rio Tinto by 7.2% during the fourth quarter. Bank of America Corp DE now owns 2,222,052 shares of the mining company’s stock worth $107,725,000 after acquiring an additional 148,553 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Rio Tinto by 17.7% during the first quarter. Neuberger Berman Group LLC now owns 1,804,181 shares of the mining company’s stock worth $106,176,000 after acquiring an additional 271,226 shares in the last quarter. Menora Mivtachim Holdings LTD. increased its position in shares of Rio Tinto by 20.9% during the first quarter. Menora Mivtachim Holdings LTD. now owns 1,512,158 shares of the mining company’s stock worth $88,990,000 after acquiring an additional 261,240 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of Rio Tinto by 5.1% during the first quarter. Parametric Portfolio Associates LLC now owns 1,146,960 shares of the mining company’s stock worth $67,499,000 after acquiring an additional 56,043 shares in the last quarter. 8.60% 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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Earnings History and Estimates for Rio Tinto (NYSE:RIO)

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