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

Shares of Rio Tinto PLC (NYSE:RIO) have received a consensus rating of “Hold” from the fifteen analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $101.75.

RIO has been the topic of several recent analyst reports. Argus set a $120.00 target price on shares of Rio Tinto in a research note on Monday, April 27th. Barclays cut shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, February 24th. Bank of America cut shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Friday, May 22nd. JPMorgan Chase & Co. cut shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a research note on Monday, March 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Rio Tinto in a research note on Friday, May 15th.

Rio Tinto Stock Up 0.1%

Shares of RIO stock opened at $100.22 on Monday. Rio Tinto has a 12 month low of $55.64 and a 12 month high of $112.58. 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 firm’s 50 day moving average is $102.95 and its 200 day moving average is $93.25.

Institutional Trading of Rio Tinto

Institutional investors and hedge funds have recently bought and sold shares of the company. AdvisorNet Financial Inc lifted its stake in Rio Tinto by 160.2% in the 1st quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. PFS Partners LLC purchased a new stake in shares of Rio Tinto during the 4th quarter valued at $28,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Rio Tinto during the 4th quarter valued at $28,000. V Square Quantitative Management LLC purchased a new stake in shares of Rio Tinto during the 1st quarter valued at $35,000. Finally, Costello Asset Management INC purchased a new stake in shares of Rio Tinto during the 1st quarter valued at $37,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

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.