Rio Tinto PLC (NYSE:RIO) Given Consensus Rating of “Hold” by Brokerages

Shares of Rio Tinto PLC (NYSE:RIO) have received an average recommendation of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $101.75.

A number of equities analysts have recently weighed in on RIO shares. DZ Bank upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Zacks Research cut Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a report on Tuesday, May 26th. Sanford C. Bernstein increased their target price on Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Finally, Bank of America lowered Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Friday, May 22nd.

Hedge Funds Weigh In On Rio Tinto

Hedge funds have recently bought and sold shares of the company. AdvisorNet Financial Inc lifted its stake in Rio Tinto by 160.2% during the 1st quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock worth $27,000 after acquiring an additional 181 shares in the last quarter. PFS Partners LLC acquired a new position in Rio Tinto during the 4th quarter worth about $28,000. Nvest Wealth Strategies Inc. acquired a new position in Rio Tinto during the 4th quarter worth about $28,000. Trust Co. of Toledo NA OH acquired a new position in Rio Tinto during the 4th quarter worth about $34,000. Finally, Evelyn Partners Investment Management LLP acquired a new position in Rio Tinto during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Stock Up 0.1%

NYSE RIO opened at $93.87 on Monday. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. Rio Tinto has a twelve month low of $57.65 and a twelve month high of $112.58. The stock has a fifty day simple moving average of $102.66 and a 200-day simple moving average of $94.04.

Rio Tinto Company Profile

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.