Rio Tinto (NYSE:RIO) Stock Rating Lowered by Renaissance Capital

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Rio Tinto (NYSE:RIO) was downgraded by analysts at Renaissance Capital from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, The Fly reports.

A number of other research firms have also weighed in on RIO. BMO Capital Markets started coverage on shares of Encompass Health in a research note on Thursday, June 27th. They issued an “outperform” rating and a $72.00 target price on the stock. Vertical Group raised shares of Calavo Growers from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research note on Thursday, April 4th. Societe Generale raised shares of Anglo American from a “hold” rating to a “buy” rating in a research note on Wednesday, May 22nd. Vertical Research raised shares of Rio Tinto from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, Investec lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Six investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. Rio Tinto currently has a consensus rating of “Hold” and an average price target of $61.58.

Shares of Rio Tinto stock opened at $60.96 on Tuesday. The stock has a market cap of $76.87 billion, a price-to-earnings ratio of 12.02 and a beta of 0.81. Rio Tinto has a twelve month low of $44.62 and a twelve month high of $64.02. The company has a 50-day moving average of $60.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.98 and a quick ratio of 1.65.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AdvisorNet Financial Inc increased its holdings in shares of Rio Tinto by 11.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 2,090 shares of the mining company’s stock worth $130,000 after buying an additional 220 shares during the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of Rio Tinto by 2.2% during the 1st quarter. Checchi Capital Advisers LLC now owns 10,232 shares of the mining company’s stock worth $602,000 after buying an additional 225 shares during the last quarter. Cornerstone Advisors Inc. increased its holdings in shares of Rio Tinto by 25.1% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,188 shares of the mining company’s stock worth $74,000 after buying an additional 238 shares during the last quarter. Investors Research Corp increased its holdings in shares of Rio Tinto by 1.9% during the 2nd quarter. Investors Research Corp now owns 13,140 shares of the mining company’s stock worth $819,000 after buying an additional 250 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of Rio Tinto by 1.4% during the 1st quarter. Creative Planning now owns 20,444 shares of the mining company’s stock worth $1,203,000 after buying an additional 287 shares during the last quarter. 8.60% of the stock is currently owned by institutional investors and hedge funds.

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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The Fly

Analyst Recommendations for Rio Tinto (NYSE:RIO)

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