Shares of Rio Tinto plc ADR (NYSE:RIO) have earned an average rating of “Hold” from the twenty-one ratings firms that are covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and three have given a buy recommendation to the company.
Several equities research analysts have issued reports on RIO shares. Jefferies Financial Group lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Liberum Capital lowered shares of Rio Tinto from a “hold” rating to a “sell” rating in a research note on Thursday. Barclays lowered shares of Rio Tinto from an “equal weight” rating to an “underweight” rating in a research note on Thursday, June 6th. Societe Generale upgraded shares of Rio Tinto from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Finally, BMO Capital Markets lowered shares of Rio Tinto from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 27th.
Institutional investors have recently added to or reduced their stakes in the company. Personal Wealth Partners acquired a new position in shares of Rio Tinto during the 2nd quarter worth about $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Rio Tinto in the 2nd quarter valued at about $25,000. Financial Gravity Wealth Inc. acquired a new position in Rio Tinto in the 1st quarter valued at about $29,000. Liberty Wealth Management LLC grew its stake in Rio Tinto by 238.6% in the 2nd quarter. Liberty Wealth Management LLC now owns 491 shares of the mining company’s stock valued at $31,000 after buying an additional 346 shares during the last quarter. Finally, Arrow Financial Corp acquired a new position in Rio Tinto in the 2nd quarter valued at about $34,000. Institutional investors own 8.71% 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.
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