Rio Tinto (NYSE:RIO) Raised to Overweight at JPMorgan Chase & Co.

Share on StockTwits

JPMorgan Chase & Co. upgraded shares of Rio Tinto (NYSE:RIO) from a neutral rating to an overweight rating in a research note released on Tuesday, The Fly reports.

A number of other research analysts have also weighed in on RIO. UBS Group reissued a neutral rating on shares of Rio Tinto in a research report on Friday, June 14th. Liberum Capital lowered shares of Rio Tinto from a buy rating to a hold rating in a research report on Wednesday, July 24th. Investec lowered shares of Rio Tinto from a buy rating to a hold rating in a research report on Wednesday, April 17th. BMO Capital Markets lowered shares of Rio Tinto from an outperform rating to a market perform rating in a research report on Thursday, June 27th. Finally, Zacks Investment Research lowered shares of Rio Tinto from a buy rating to a hold rating in a research report on Thursday, August 8th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $59.77.

RIO opened at $48.97 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.55 and a quick ratio of 1.22. The company’s 50-day moving average is $57.60 and its 200 day moving average is $58.41. Rio Tinto has a fifty-two week low of $44.62 and a fifty-two week high of $64.02. The firm has a market capitalization of $63.61 billion, a P/E ratio of 9.66 and a beta of 0.83.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hudock Capital Group LLC increased its stake in shares of Rio Tinto by 5.2% in the second quarter. Hudock Capital Group LLC now owns 3,667 shares of the mining company’s stock worth $228,000 after purchasing an additional 181 shares in the last quarter. AdvisorNet Financial Inc increased its stake in shares of Rio Tinto by 11.8% in the second quarter. AdvisorNet Financial Inc now owns 2,090 shares of the mining company’s stock worth $130,000 after purchasing an additional 220 shares in the last quarter. JNBA Financial Advisors increased its stake in shares of Rio Tinto by 15.4% in the second quarter. JNBA Financial Advisors now owns 1,662 shares of the mining company’s stock worth $104,000 after purchasing an additional 222 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in Rio Tinto by 2.2% during the first quarter. Checchi Capital Advisers LLC now owns 10,232 shares of the mining company’s stock valued at $602,000 after acquiring an additional 225 shares in the last quarter. Finally, Hamilton Point Investment Advisors LLC grew its stake in Rio Tinto by 0.7% during the second quarter. Hamilton Point Investment Advisors LLC now owns 35,218 shares of the mining company’s stock valued at $2,196,000 after acquiring an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 8.64% of the company’s stock.

About Rio Tinto

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.

See Also: What is the downside to momentum investing?

The Fly

Analyst Recommendations for Rio Tinto (NYSE:RIO)

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.



Latest News

Family Management Corp Acquires 431 Shares of Mcdonald’s Corp
Family Management Corp Acquires 431 Shares of Mcdonald’s Corp
Family Management Corp Increases Stock Holdings in Nuveen Arizona Premium Income Mun Fd
Family Management Corp Increases Stock Holdings in Nuveen Arizona Premium Income Mun Fd
Family Management Corp Has $383,000 Stock Holdings in Invesco Variable Rate Preferred ETF
Family Management Corp Has $383,000 Stock Holdings in Invesco Variable Rate Preferred ETF
Family Management Corp Sells 850 Shares of Bristol-Myers Squibb Co
Family Management Corp Sells 850 Shares of Bristol-Myers Squibb Co
CPV Partners LLC Buys New Holdings in Laureate Education Inc
CPV Partners LLC Buys New Holdings in Laureate Education Inc
Family Management Corp Increases Stake in Blackrock Muniholdings New York Qulty Fd
Family Management Corp Increases Stake in Blackrock Muniholdings New York Qulty Fd


© 2006-2019 Ticker Report