Rio Tinto (NYSE:RIO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Rio Tinto PLC is an international mining company. The Company has interests in mining for aluminum, borax, coal, copper, gold, iron ore, lead, silver, tin, uranium, zinc, titanium, dioxide feedstock, diamonds, talc and zircon. RTZ’s various mining operations are located in New Zealand, Australia, South Africa, Europe and Canada. “

Other research analysts have also issued reports about the stock. Citigroup reiterated a “buy” rating on shares of Rio Tinto in a research note on Tuesday, December 5th. Societe Generale upgraded shares of Rio Tinto from a “hold” rating to a “buy” rating in a research note on Wednesday, November 8th. ValuEngine lowered shares of Rio Tinto from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Jefferies Group set a $52.00 price target on shares of Rio Tinto and gave the stock a “buy” rating in a research note on Friday, August 18th. Finally, Canaccord Genuity lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Rio Tinto has a consensus rating of “Buy” and an average target price of $51.59.

Rio Tinto (NYSE:RIO) traded up $0.90 during trading hours on Wednesday, hitting $48.60. 4,166,540 shares of the stock traded hands, compared to its average volume of 3,250,692. Rio Tinto has a 12-month low of $37.66 and a 12-month high of $50.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.71 and a quick ratio of 1.34.

A number of large investors have recently added to or reduced their stakes in the business. HPM Partners LLC increased its stake in Rio Tinto by 1.3% during the 2nd quarter. HPM Partners LLC now owns 10,211 shares of the mining company’s stock valued at $432,000 after purchasing an additional 132 shares in the last quarter. Moors & Cabot Inc. increased its stake in Rio Tinto by 2.7% during the 2nd quarter. Moors & Cabot Inc. now owns 9,997 shares of the mining company’s stock valued at $425,000 after purchasing an additional 264 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Rio Tinto by 2.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,821 shares of the mining company’s stock valued at $500,000 after purchasing an additional 281 shares in the last quarter. Acrospire Investment Management LLC increased its stake in Rio Tinto by 13.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock valued at $110,000 after purchasing an additional 299 shares in the last quarter. Finally, ETRADE Capital Management LLC increased its stake in Rio Tinto by 3.7% during the 2nd quarter. ETRADE Capital Management LLC now owns 8,872 shares of the mining company’s stock valued at $375,000 after purchasing an additional 315 shares in the last quarter. Institutional investors and hedge funds own 7.20% of the company’s stock.

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Rio Tinto Company Profile

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

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