Rio Tinto (RIO) Stock Rating Reaffirmed by JPMorgan Chase & Co.

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Rio Tinto (NYSE:RIO)‘s stock had its “buy” rating reiterated by JPMorgan Chase & Co. in a research note issued on Wednesday.

A number of other analysts have also weighed in on RIO. Deutsche Bank restated a “neutral” rating on shares of Rio Tinto in a research note on Monday, July 16th. Jefferies Financial Group set a $67.00 price target on shares of Rio Tinto and gave the company a “buy” rating in a research note on Wednesday, August 1st. Zacks Investment Research lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. ValuEngine lowered shares of Rio Tinto from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Finally, Societe Generale lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $58.80.

Shares of RIO stock traded up $0.73 during trading hours on Wednesday, reaching $52.32. 105,708 shares of the stock were exchanged, compared to its average volume of 2,953,037. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.41 and a current ratio of 1.77. Rio Tinto has a 12-month low of $45.62 and a 12-month high of $60.72. The firm has a market capitalization of $67.11 billion, a price-to-earnings ratio of 10.91 and a beta of 1.01.

Institutional investors have recently made changes to their positions in the business. Fisher Asset Management LLC boosted its holdings in shares of Rio Tinto by 125.9% in the third quarter. Fisher Asset Management LLC now owns 9,275,526 shares of the mining company’s stock valued at $473,237,000 after acquiring an additional 5,169,326 shares during the period. Boston Partners boosted its holdings in shares of Rio Tinto by 2,390.4% in the second quarter. Boston Partners now owns 3,204,017 shares of the mining company’s stock valued at $177,759,000 after acquiring an additional 3,075,360 shares during the period. Capital Fund Management S.A. boosted its holdings in shares of Rio Tinto by 373.8% in the second quarter. Capital Fund Management S.A. now owns 435,301 shares of the mining company’s stock valued at $24,150,000 after acquiring an additional 343,420 shares during the period. FMR LLC boosted its holdings in shares of Rio Tinto by 207.9% in the second quarter. FMR LLC now owns 261,714 shares of the mining company’s stock valued at $14,519,000 after acquiring an additional 176,714 shares during the period. Finally, Cornerstone Wealth Management LLC acquired a new stake in shares of Rio Tinto in the second quarter valued at approximately $2,972,000. Institutional investors own 7.46% of the company’s stock.

Rio Tinto Company Profile

Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.

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Analyst Recommendations for Rio Tinto (NYSE:RIO)

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