Jefferies Financial Group Analysts Lower Earnings Estimates for Rio Tinto plc ADR (RIO)
Rio Tinto plc ADR (NYSE:RIO) – Stock analysts at Jefferies Financial Group reduced their FY2018 earnings per share estimates for shares of Rio Tinto in a report issued on Tuesday, October 16th. Jefferies Financial Group analyst C. Lafemina now anticipates that the mining company will post earnings of $4.70 per share for the year, down from their previous estimate of $4.74. Jefferies Financial Group currently has a “Buy” rating and a $67.00 target price on the stock.
A number of other research firms have also recently weighed in on RIO. Royal Bank of Canada cut Rio Tinto from a “sector perform” rating to an “underperform” rating in a research report on Wednesday, July 25th. Zacks Investment Research cut Rio Tinto from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. HSBC raised Rio Tinto from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Deutsche Bank reissued a “neutral” rating on shares of Rio Tinto in a report on Monday, July 16th. Finally, ValuEngine raised Rio Tinto from a “sell” rating to a “hold” rating in a report on Monday, September 24th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $57.06.
A number of hedge funds and other institutional investors have recently bought and sold shares of RIO. Trust Department MB Financial Bank N A purchased a new position in Rio Tinto in the 3rd quarter worth approximately $102,000. Whittier Trust Co. lifted its holdings in Rio Tinto by 605.9% in the 2nd quarter. Whittier Trust Co. now owns 2,047 shares of the mining company’s stock worth $111,000 after purchasing an additional 1,757 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in Rio Tinto by 5,481.0% in the 1st quarter. Summit Trail Advisors LLC now owns 137,405 shares of the mining company’s stock worth $137,000 after purchasing an additional 134,943 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Rio Tinto in the 2nd quarter worth approximately $166,000. Finally, Brown Advisory Inc. purchased a new position in Rio Tinto in the 2nd quarter worth approximately $201,000. 7.12% of the stock is currently owned by institutional investors.
The firm also recently declared a semiannual dividend, which was paid on Thursday, September 20th. Investors of record on Friday, August 10th were issued a $1.271 dividend. The ex-dividend date of this dividend was Thursday, August 9th. This represents a yield of 4.9%. Rio Tinto’s dividend payout ratio is presently 53.03%.
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.
Further Reading: Fundamental Analysis and Individual Investors
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