Rio Tinto PLC (NYSE:RIO) Given Consensus Recommendation of “Hold” by Analysts

Rio Tinto PLC (NYSE:RIOGet Free Report) has earned a consensus recommendation of “Hold” from the fourteen ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $101.75.

A number of research analysts have weighed in on RIO shares. Royal Bank Of Canada downgraded Rio Tinto from a “sector perform” rating to an “underperform” rating in a report on Wednesday, June 3rd. DZ Bank upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Zacks Research lowered Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Morgan Stanley cut Rio Tinto from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Rio Tinto in a report on Wednesday, May 20th.

Check Out Our Latest Report on Rio Tinto

Institutional Trading of Rio Tinto

A number of hedge funds and other institutional investors have recently modified their holdings of RIO. AdvisorNet Financial Inc lifted its position in Rio Tinto by 160.2% during the 1st quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock valued at $27,000 after acquiring an additional 181 shares during the period. PFS Partners LLC bought a new stake in Rio Tinto during the fourth quarter worth about $28,000. Nvest Wealth Strategies Inc. purchased a new stake in Rio Tinto in the fourth quarter worth about $28,000. V Square Quantitative Management LLC purchased a new stake in Rio Tinto in the first quarter worth about $35,000. Finally, Costello Asset Management INC bought a new position in shares of Rio Tinto during the first quarter valued at approximately $37,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Price Performance

Shares of RIO opened at $90.64 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. Rio Tinto has a one year low of $58.40 and a one year high of $112.58. The company has a 50-day simple moving average of $100.50 and a two-hundred day simple moving average of $95.44.

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About Rio Tinto

(Get Free Report)

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.

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Analyst Recommendations for Rio Tinto (NYSE:RIO)

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