Rio Tinto (RIO) Rating Lowered to Buy at JPMorgan Chase & Co.

Rio Tinto (NYSE:RIO) was downgraded by research analysts at JPMorgan Chase & Co. to a “buy” rating in a report released on Thursday.

A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. Societe Generale downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. BMO Capital Markets reissued a “buy” rating on shares of Rio Tinto in a research note on Tuesday, October 16th. Goldman Sachs Group raised shares of Rio Tinto from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 9th. Finally, ValuEngine downgraded shares of Rio Tinto from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $58.80.

Shares of RIO stock opened at $47.38 on Thursday. Rio Tinto has a 52 week low of $45.62 and a 52 week high of $60.72. The company has a current ratio of 1.77, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $61.43 billion, a PE ratio of 9.89 and a beta of 0.99.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gilman Hill Asset Management LLC grew its holdings in Rio Tinto by 8.5% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 38,284 shares of the mining company’s stock valued at $1,953,000 after purchasing an additional 2,985 shares in the last quarter. BB&T Securities LLC grew its holdings in Rio Tinto by 17.4% during the 2nd quarter. BB&T Securities LLC now owns 17,164 shares of the mining company’s stock valued at $952,000 after purchasing an additional 2,545 shares in the last quarter. Boston Partners grew its holdings in Rio Tinto by 2,390.4% during the 2nd quarter. Boston Partners now owns 3,204,017 shares of the mining company’s stock valued at $177,759,000 after purchasing an additional 3,075,360 shares in the last quarter. Baird Financial Group Inc. grew its holdings in Rio Tinto by 11.3% during the 2nd quarter. Baird Financial Group Inc. now owns 115,456 shares of the mining company’s stock valued at $6,405,000 after purchasing an additional 11,742 shares in the last quarter. Finally, Liberty Mutual Group Asset Management Inc. grew its holdings in Rio Tinto by 54.8% during the 2nd quarter. Liberty Mutual Group Asset Management Inc. now owns 21,984 shares of the mining company’s stock valued at $1,220,000 after purchasing an additional 7,784 shares in the last quarter. 7.16% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Rio Tinto (NYSE:RIO)

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