Rio Tinto plc (RIO) Lowered to “Neutral” at J P Morgan Chase & Co
RIO has been the topic of a number of other reports. Royal Bank Of Canada lowered shares of Rio Tinto plc from an outperform rating to a sector perform rating and boosted their price target for the company from $47.87 to $48.37 in a research report on Monday, October 23rd. Zacks Investment Research upgraded shares of Rio Tinto plc from a strong sell rating to a hold rating in a research report on Saturday, August 5th. ValuEngine lowered shares of Rio Tinto plc from a strong-buy rating to a buy rating in a research report on Friday, September 1st. Citigroup Inc. lowered shares of Rio Tinto plc from a buy rating to a neutral rating in a research report on Tuesday, October 17th. Finally, Jefferies Group LLC set a $55.00 target price on shares of Rio Tinto plc and gave the stock a buy rating in a research report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $50.07.
Rio Tinto plc (NYSE:RIO) traded down $0.31 during trading hours on Monday, reaching $49.20. 1,957,400 shares of the company’s stock were exchanged, compared to its average volume of 3,332,728. Rio Tinto plc has a 52-week low of $36.25 and a 52-week high of $50.77. The company has a current ratio of 1.71, a quick ratio of 1.34 and a debt-to-equity ratio of 0.31.
TRADEMARK VIOLATION NOTICE: This article was posted by Daily Political and is the property of of Daily Political. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.dailypolitical.com/2017/11/14/rio-tinto-plc-rio-lowered-to-neutral-at-j-p-morgan-chase-co.html.
A number of large investors have recently modified their holdings of RIO. Geode Capital Management LLC increased its stake in Rio Tinto plc by 13.8% in the first quarter. Geode Capital Management LLC now owns 25,180 shares of the mining company’s stock valued at $1,024,000 after purchasing an additional 3,061 shares in the last quarter. Credit Suisse AG increased its stake in Rio Tinto plc by 56.8% in the first quarter. Credit Suisse AG now owns 174,593 shares of the mining company’s stock valued at $7,102,000 after purchasing an additional 63,272 shares in the last quarter. Bank of Montreal Can bought a new stake in Rio Tinto plc in the second quarter valued at approximately $21,563,000. Aperio Group LLC increased its stake in Rio Tinto plc by 14.9% in the second quarter. Aperio Group LLC now owns 355,572 shares of the mining company’s stock valued at $15,044,000 after purchasing an additional 46,083 shares in the last quarter. Finally, Sit Investment Associates Inc. increased its stake in Rio Tinto plc by 5.7% in the second quarter. Sit Investment Associates Inc. now owns 28,456 shares of the mining company’s stock valued at $1,204,000 after purchasing an additional 1,531 shares in the last quarter. 7.02% of the stock is owned by hedge funds and other institutional investors.
About Rio Tinto plc
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.
Receive News & Ratings for Rio Tinto plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto plc and related companies with MarketBeat.com's FREE daily email newsletter.