Rio Tinto plc ADR (NYSE:RIO) – Analysts at Jefferies Financial Group dropped their FY2019 earnings estimates for Rio Tinto in a report released on Tuesday, October 16th. Jefferies Financial Group analyst C. Lafemina now anticipates that the mining company will earn $4.88 per share for the year, down from their prior forecast of $4.95. Jefferies Financial Group currently has a “Buy” rating and a $67.00 target price on the stock. Jefferies Financial Group also issued estimates for Rio Tinto’s FY2020 earnings at $4.70 EPS.

Several other analysts have also commented on the stock. JPMorgan Chase & Co. upgraded shares of Rio Tinto from a “neutral” rating to an “overweight” rating in a report on Monday, September 10th. Investec lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, September 5th. ValuEngine upgraded shares of Rio Tinto from a “sell” rating to a “hold” rating in a report on Monday, September 24th. Goldman Sachs Group upgraded shares of Rio Tinto from a “neutral” rating to a “buy” rating in a report on Tuesday, October 9th. Finally, Zacks Investment Research lowered shares of Rio Tinto from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 7th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $57.06.

Shares of RIO opened at $48.61 on Thursday. The company has a quick ratio of 1.41, a current ratio of 1.77 and a debt-to-equity ratio of 0.27. Rio Tinto has a one year low of $45.62 and a one year high of $60.72. The stock has a market capitalization of $66.21 billion, a price-to-earnings ratio of 10.15 and a beta of 1.08.

Several hedge funds have recently added to or reduced their stakes in RIO. BlackRock Inc. lifted its holdings in shares of Rio Tinto by 3.4% during the first quarter. BlackRock Inc. now owns 1,414,549 shares of the mining company’s stock valued at $72,892,000 after purchasing an additional 45,961 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Rio Tinto by 38.5% during the first quarter. Commonwealth Equity Services LLC now owns 40,154 shares of the mining company’s stock valued at $2,069,000 after purchasing an additional 11,167 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Rio Tinto by 72.4% during the first quarter. The Manufacturers Life Insurance Company now owns 9,404 shares of the mining company’s stock valued at $484,000 after purchasing an additional 3,949 shares during the last quarter. United Capital Financial Advisers LLC lifted its holdings in shares of Rio Tinto by 25.1% during the first quarter. United Capital Financial Advisers LLC now owns 18,353 shares of the mining company’s stock valued at $946,000 after purchasing an additional 3,688 shares during the last quarter. Finally, Natixis lifted its holdings in shares of Rio Tinto by 21.0% during the first quarter. Natixis now owns 42,722 shares of the mining company’s stock valued at $2,201,000 after purchasing an additional 7,403 shares during the last quarter. Hedge funds and other institutional investors own 7.12% of the company’s stock.

The firm also recently announced a semiannual dividend, which was paid on Thursday, September 20th. Stockholders of record on Friday, August 10th were issued a dividend of $1.271 per share. The ex-dividend date was Thursday, August 9th. This represents a dividend yield of 4.9%. Rio Tinto’s payout ratio is 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.

Featured Story: Understanding Relative Strength Index

Earnings History and Estimates for Rio Tinto (NYSE:RIO)

Receive News & Ratings for Rio Tinto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto and related companies with MarketBeat.com's FREE daily email newsletter.