Rio Tinto plc (RIO) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Rio Tinto plc (NYSE:RIO) from a strong sell rating to a hold rating in a research report released on Saturday.
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. “
Several other brokerages also recently weighed in on RIO. ValuEngine upgraded shares of Rio Tinto plc from a buy rating to a strong-buy rating in a research note on Thursday, July 6th. Axiom Securities restated a sell rating on shares of Rio Tinto plc in a research note on Thursday, July 13th. BidaskClub downgraded shares of Rio Tinto plc from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Citigroup Inc. upgraded shares of Rio Tinto plc from a neutral rating to a buy rating in a research note on Thursday, April 20th. Finally, BNP Paribas upgraded shares of Rio Tinto plc from a neutral rating to an outperform rating in a research note on Thursday, April 20th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $40.50.
Shares of Rio Tinto plc (NYSE:RIO) traded up 1.41% during trading on Friday, reaching $46.83. 2,268,171 shares of the company were exchanged. The company’s 50-day moving average is $42.93 and its 200 day moving average is $41.92. Rio Tinto plc has a 1-year low of $29.62 and a 1-year high of $47.51. The firm has a market capitalization of $84.12 billion, a PE ratio of 13.65 and a beta of 0.98.
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The business also recently disclosed a None dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, August 11th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, August 9th.
Several large investors have recently bought and sold shares of the company. Knowledge Leaders Capital LLC increased its stake in Rio Tinto plc by 126.0% in the second quarter. Knowledge Leaders Capital LLC now owns 2,393 shares of the mining company’s stock valued at $101,000 after buying an additional 1,334 shares during the last quarter. Quantbot Technologies LP bought a new stake in Rio Tinto plc during the first quarter valued at approximately $111,000. UBS Asset Management Americas Inc. bought a new stake in Rio Tinto plc during the fourth quarter valued at approximately $119,000. Huntington National Bank increased its stake in Rio Tinto plc by 167.1% in the first quarter. Huntington National Bank now owns 3,707 shares of the mining company’s stock valued at $151,000 after buying an additional 2,319 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in Rio Tinto plc by 267.6% in the first quarter. IFP Advisors Inc now owns 3,874 shares of the mining company’s stock valued at $158,000 after buying an additional 2,820 shares during the last quarter. Institutional investors and hedge funds own 7.14% of the company’s stock.
Rio Tinto plc 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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