Rio Tinto PLC (RIO) – What Are Brokerages Saying About This Stock?

Shares of Rio Tinto PLC (NYSE:RIO) have been assigned an average recommendation of “Hold” from the nineteen research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $101.62.

A number of brokerages recently issued reports on RIO. Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a report on Tuesday, October 13th. DZ Bank reissued a “buy” rating on shares of Rio Tinto in a research report on Tuesday, September 15th. Barclays restated a “neutral” rating on shares of Rio Tinto in a research note on Tuesday, July 7th. Royal Bank Of Canada upgraded shares of Rio Tinto from an “underperform” rating to a “sector perform” rating in a report on Tuesday, October 6th. Finally, Berenberg Bank reaffirmed a “buy” rating on shares of Rio Tinto in a research note on Wednesday, September 30th.

Rio Tinto Trading Down 0.9%

Shares of Rio Tinto stock opened at $83.37 on Friday. Rio Tinto has a 52 week low of $67.74 and a 52 week high of $112.58. The stock has a 50 day moving average price of $96.97 and a two-hundred day moving average price of $98.35. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.42 and a quick ratio of 0.93.

Rio Tinto Announces Dividend

The firm also recently announced a dividend, which was paid on Thursday, September 24th. Stockholders of record on Friday, August 14th were given a dividend of $2.11 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a dividend yield of 441.0%.

Institutional Investors Weigh In On Rio Tinto

A number of institutional investors and hedge funds have recently made changes to their positions in RIO. Miramontes Capital LLC lifted its position in Rio Tinto by 1.7% in the 2nd quarter. Miramontes Capital LLC now owns 5,863 shares of the mining company’s stock valued at $557,000 after acquiring an additional 99 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Rio Tinto by 2.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 5,865 shares of the mining company’s stock valued at $557,000 after purchasing an additional 114 shares during the last quarter. Asset Allocation Strategies LLC increased its holdings in Rio Tinto by 4.0% during the 2nd quarter. Asset Allocation Strategies LLC now owns 3,010 shares of the mining company’s stock worth $286,000 after purchasing an additional 117 shares in the last quarter. Trust Point Inc. increased its holdings in Rio Tinto by 2.0% during the 2nd quarter. Trust Point Inc. now owns 5,989 shares of the mining company’s stock worth $569,000 after purchasing an additional 118 shares in the last quarter. Finally, Walker Asset Management LLC increased its holdings in Rio Tinto by 2.5% during the 2nd quarter. Walker Asset Management LLC now owns 4,866 shares of the mining company’s stock worth $462,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

More Rio Tinto News

Here are the key news stories impacting Rio Tinto this week:

• Positive Sentiment: Rio Tinto approved a $1.9 billion investment in the Kangwinan bauxite project in Queensland. The brownfield expansion is expected to add 20 million tonnes of annual capacity, use existing Weipa infrastructure, extend the life of the operation and support first production in 2029, with full output targeted for 2032. The project strengthens Rio Tinto’s long-term bauxite supply and customer relationships. Rio Tinto to invest $1.9 billion to develop the Kangwinan bauxite project
• Positive Sentiment: The Kangwinan development provides a long-term replacement and expansion pathway for Rio Tinto’s aging Queensland bauxite operations. While the spending increases near-term capital requirements, investors may view the project positively because it leverages existing assets and helps preserve production beyond the current mine life. Rio Tinto commits $1.9bn for Queensland’s Kangwinan bauxite project
• Neutral Sentiment: Canada’s government is scheduled to announce a Strategic Response Fund investment involving Rio Tinto Alcan and Aluminerie Alouette to support low-carbon aluminum production. The potential funding could help Rio’s decarbonization efforts, but the financial details and direct benefit to Rio Tinto were not yet disclosed. Media advisory on Strategic Response Fund investment
• Neutral Sentiment: Thiess secured five-year mining contracts at Mongolia’s Oyu Tolgoi and Ukhaa Khudag mines. The Oyu Tolgoi work is relevant to Rio Tinto as the mine’s operator, but the announcement concerns Thiess’s contracts and does not indicate an immediate change to Rio Tinto’s financial outlook. Thiess secures two five-year mining contracts in Mongolia
• Negative Sentiment: Rio Tinto and other major miners have been pressured by weaker iron ore prices, concerns about global capital expenditure and softer earnings expectations. This sector-wide commodity weakness is the primary near-term headwind for RIO, potentially offsetting the longer-term benefits of the bauxite expansion. BHP, Rio Tinto and Fortescue hit multi-month lows

About Rio Tinto

Rio Tinto plc is a diversified mining and metals company with operations and projects spanning multiple continents. Its principal products include iron ore, aluminum, copper, lithium, borates and titanium dioxide, which are supplied to customers in the steel, construction, automotive, technology and manufacturing industries.

The company explores for, mines, processes and transports mineral resources, while also operating related infrastructure such as railways, ports, smelters and processing facilities.