JPMorgan Chase & Co. restated their buy rating on shares of Rio Tinto (NYSE:RIO) in a report published on Wednesday.
Several other research firms also recently issued reports on RIO. Royal Bank of Canada downgraded Rio Tinto from a sector perform rating to an underperform rating in a research note on Wednesday, July 25th. Zacks Investment Research downgraded Rio Tinto from a buy rating to a hold rating in a research note on Tuesday, July 10th. Jefferies Financial Group set a $67.00 price target on Rio Tinto and gave the stock a buy rating in a research note on Wednesday, August 1st. Deutsche Bank reiterated a neutral rating on shares of Rio Tinto in a research note on Monday, July 16th. Finally, ValuEngine upgraded Rio Tinto from a sell rating to a hold rating in a research note on Monday, September 24th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $58.80.
Shares of RIO traded down $1.53 during trading hours on Wednesday, hitting $50.57. 2,856,281 shares of the company were exchanged, compared to its average volume of 2,747,468. The company has a market cap of $68.94 billion, a PE ratio of 10.56 and a beta of 1.01. Rio Tinto has a 52 week low of $45.62 and a 52 week high of $60.72. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.41 and a current ratio of 1.77.
Large investors have recently made changes to their positions in the stock. Trust Department MB Financial Bank N A bought a new stake in Rio Tinto during the 3rd quarter valued at approximately $102,000. Whittier Trust Co. boosted its stake in Rio Tinto by 605.9% during the 2nd quarter. Whittier Trust Co. now owns 2,047 shares of the mining company’s stock valued at $111,000 after purchasing an additional 1,757 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Rio Tinto during the 2nd quarter valued at approximately $166,000. Brown Advisory Inc. bought a new stake in Rio Tinto during the 2nd quarter valued at approximately $201,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Rio Tinto by 2,042.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,985 shares of the mining company’s stock valued at $216,000 after purchasing an additional 3,799 shares during the period. Hedge funds and other institutional investors own 7.46% of the company’s stock.
Rio Tinto Company Profile
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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