Rio Tinto (NYSE:RIO) was downgraded by stock analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research note issued on Thursday.

RIO has been the subject of a number of other research reports. ValuEngine lowered shares of Rio Tinto from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Citigroup reiterated a “buy” rating on shares of Rio Tinto in a research report on Tuesday, December 5th. Royal Bank of Canada downgraded shares of Rio Tinto from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $47.87 to $48.37 in a report on Monday, October 23rd. Cowen set a $47.00 price target on shares of Rio Tinto and gave the company a “hold” rating in a report on Monday, October 16th. Finally, Zacks Investment Research downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Rio Tinto presently has an average rating of “Buy” and a consensus price target of $51.59.

Shares of Rio Tinto (NYSE RIO) traded up $0.90 on Thursday, reaching $48.60. 4,166,500 shares of the company were exchanged, compared to its average volume of 3,250,692. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.71 and a quick ratio of 1.34. Rio Tinto has a 12-month low of $37.66 and a 12-month high of $50.77.

A number of hedge funds have recently bought and sold shares of RIO. Zions Bancorporation increased its holdings in shares of Rio Tinto by 2,992.2% in the 3rd quarter. Zions Bancorporation now owns 2,381 shares of the mining company’s stock valued at $112,000 after purchasing an additional 2,304 shares during the period. Knowledge Leaders Capital LLC increased its holdings in Rio Tinto by 126.0% in the second quarter. Knowledge Leaders Capital LLC now owns 2,393 shares of the mining company’s stock worth $101,000 after buying an additional 1,334 shares during the last quarter. Acrospire Investment Management LLC increased its holdings in Rio Tinto by 13.0% in the second quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock worth $110,000 after buying an additional 299 shares during the last quarter. Hudock Capital Group LLC increased its holdings in Rio Tinto by 125.4% in the second quarter. Hudock Capital Group LLC now owns 2,795 shares of the mining company’s stock worth $118,000 after buying an additional 1,555 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Rio Tinto by 212.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,187 shares of the mining company’s stock worth $135,000 after buying an additional 2,166 shares during the last quarter. 7.20% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Rio Tinto (NYSE:RIO)

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