Rio Tinto (NYSE:RIO – Get Free Report) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday, Zacks reports.
Other equities analysts have also issued research reports about the stock. DZ Bank upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Rio Tinto in a report on Friday, May 15th. The Goldman Sachs Group upgraded shares of Rio Tinto from a “neutral” rating to a “buy” rating in a report on Wednesday, July 29th. Royal Bank Of Canada lowered shares of Rio Tinto from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, June 3rd. Finally, Morgan Stanley assumed coverage on Rio Tinto in a report on Monday, August 24th. They issued an “underweight” rating and a $90.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $101.62.
Get Our Latest Research Report on RIO
Rio Tinto Price Performance
Institutional Investors Weigh In On Rio Tinto
Several hedge funds have recently made changes to their positions in RIO. Glen Eagle Advisors LLC boosted its stake in Rio Tinto by 32.2% in the 4th quarter. Glen Eagle Advisors LLC now owns 452 shares of the mining company’s stock worth $36,000 after purchasing an additional 110 shares during the period. Asset Allocation Strategies LLC raised its stake 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 valued at $286,000 after purchasing an additional 117 shares during the period. Trust Point Inc. raised its stake in Rio Tinto by 2.0% during the 2nd quarter. Trust Point Inc. now owns 5,989 shares of the mining company’s stock valued at $569,000 after purchasing an additional 118 shares during the period. Americana Partners LLC raised its stake in Rio Tinto by 0.8% during the 4th quarter. Americana Partners LLC now owns 16,108 shares of the mining company’s stock valued at $1,289,000 after purchasing an additional 120 shares during the period. Finally, Walker Asset Management LLC lifted its holdings in shares of Rio Tinto by 2.5% in the second quarter. Walker Asset Management LLC now owns 4,866 shares of the mining company’s stock valued at $462,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.
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.
Further Reading
- Five stocks we like better than Rio Tinto
- The Path to $230 Billion: Broadcom Outlines the Next Phase of Its AI Growth Story
- NVIDIA’s Hugging Face Deal Raises a Bigger Question About Its AI Moat Now
- Dropping the Dough: Yum! Brands Strategically Trims the Fat
- These 3 Stock Charts Just Flashed the Dreaded Death Cross Pattern
Receive News & Ratings for Rio Tinto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto and related companies with MarketBeat.com's FREE daily email newsletter.
