Rio Tinto (NYSE:RIO) Rating Lowered to “Equal Weight” at Barclays

Rio Tinto (NYSE:RIO) was downgraded by Barclays from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday.

A number of other research firms have also recently weighed in on RIO. Morgan Stanley cut shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 28th. Citigroup upgraded shares of Rio Tinto to a “hold” rating in a research report on Tuesday, February 10th. HSBC cut Rio Tinto from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Rio Tinto in a report on Thursday, January 22nd. Finally, Argus lifted their price target on Rio Tinto from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Rio Tinto currently has an average rating of “Moderate Buy” and an average price target of $85.00.

Rio Tinto Price Performance

Rio Tinto stock opened at $97.67 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. The business has a 50 day simple moving average of $88.08 and a 200-day simple moving average of $74.61. Rio Tinto has a 12 month low of $51.67 and a 12 month high of $100.33.

Institutional Trading of Rio Tinto

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership boosted its holdings in Rio Tinto by 170.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company’s stock valued at $311,023,000 after purchasing an additional 2,451,140 shares during the last quarter. Milford Funds Ltd. purchased a new stake in shares of Rio Tinto during the 4th quarter valued at approximately $93,143,000. Deutsche Bank AG lifted its holdings in Rio Tinto by 102.6% in the fourth quarter. Deutsche Bank AG now owns 2,216,935 shares of the mining company’s stock valued at $177,421,000 after acquiring an additional 1,122,667 shares during the last quarter. Natixis Advisors LLC grew its position in Rio Tinto by 144.7% in the fourth quarter. Natixis Advisors LLC now owns 1,587,387 shares of the mining company’s stock worth $127,039,000 after acquiring an additional 938,687 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Rio Tinto in the second quarter valued at $49,089,000. 19.33% of the stock is owned by institutional investors and hedge funds.

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.