Rio Tinto plc ADR (NYSE:RIO) – Analysts at Jefferies Financial Group cut their FY2019 EPS estimates for shares of Rio Tinto in a research report issued on Monday, October 8th. Jefferies Financial Group analyst C. Lafemina now expects that the mining company will post earnings of $4.95 per share for the year, down from their prior forecast of $5.01. Jefferies Financial Group currently has a “Buy” rating and a $67.00 target price on the stock. Jefferies Financial Group also issued estimates for Rio Tinto’s FY2020 earnings at $4.75 EPS.
Other analysts also recently issued research reports about the stock. HSBC raised shares of Rio Tinto from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Zacks Investment Research raised shares of Rio Tinto from a “sell” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Wednesday, June 20th. Goldman Sachs Group raised shares of Rio Tinto from a “neutral” rating to a “buy” rating in a research report on Tuesday. Liberum Capital raised shares of Rio Tinto from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Finally, Investec downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, September 5th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $57.06.
Shares of NYSE:RIO opened at $49.19 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.77 and a quick ratio of 1.41. Rio Tinto has a 52-week low of $45.62 and a 52-week high of $60.72. The company has a market capitalization of $67.37 billion, a price-to-earnings ratio of 10.33 and a beta of 1.08.
The firm also recently announced a semiannual dividend, which was paid on Thursday, September 20th. Stockholders of record on Friday, August 10th were paid a dividend of $1.271 per share. This represents a dividend yield of 4.9%. The ex-dividend date of this dividend was Thursday, August 9th. Rio Tinto’s dividend payout ratio (DPR) is currently 53.03%.
Institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its stake in Rio Tinto by 2.5% during the third quarter. Bank of Montreal Can now owns 557,547 shares of the mining company’s stock worth $28,446,000 after purchasing an additional 13,551 shares during the last quarter. BLB&B Advisors LLC lifted its stake in Rio Tinto by 175.0% during the third quarter. BLB&B Advisors LLC now owns 31,246 shares of the mining company’s stock worth $1,594,000 after purchasing an additional 19,885 shares during the last quarter. Manning & Napier Group LLC lifted its stake in Rio Tinto by 1.7% during the third quarter. Manning & Napier Group LLC now owns 110,304 shares of the mining company’s stock worth $5,626,000 after purchasing an additional 1,804 shares during the last quarter. Trust Department MB Financial Bank N A acquired a new stake in Rio Tinto in the third quarter worth $102,000. Finally, Neville Rodie & Shaw Inc. increased its position in Rio Tinto by 2.8% in the third quarter. Neville Rodie & Shaw Inc. now owns 58,700 shares of the mining company’s stock worth $2,995,000 after buying an additional 1,600 shares during the period. Institutional investors own 7.12% of the company’s stock.
About Rio Tinto
Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.
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