Rio Tinto (RIO) Scheduled to Post Earnings on Wednesday

Rio Tinto (NYSE:RIO) is set to post its quarterly earnings results before the market opens on Wednesday, February 7th.

Rio Tinto (NYSE RIO) opened at $54.33 on Monday. Rio Tinto has a 12 month low of $37.66 and a 12 month high of $57.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.34 and a current ratio of 1.71. The stock has a market capitalization of $99,710.00, a PE ratio of 15.84 and a beta of 1.09.

Several equities analysts recently issued reports on the company. Cowen set a $47.00 price target on Rio Tinto and gave the company a “hold” rating in a research note on Monday, October 16th. HSBC lowered Rio Tinto from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Clarkson Capital lowered Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Monday, October 16th. Zacks Investment Research lowered Rio Tinto from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Citigroup lowered Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $55.09.

A hedge fund recently raised its stake in Rio Tinto stock. State Street Corp lifted its holdings in Rio Tinto plc (NYSE:RIO) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,399 shares of the mining company’s stock after acquiring an additional 1,700 shares during the quarter. State Street Corp’s holdings in Rio Tinto were worth $1,075,000 at the end of the most recent reporting period. 7.24% of the stock is owned by institutional investors and hedge funds.

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About Rio Tinto

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

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