Zacks Investment Research downgraded shares of Rio Tinto (NYSE:RIO) from a strong-buy rating to a hold rating in a report released on Tuesday, Zacks.com reports.

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. “

RIO has been the topic of a number of other reports. HSBC downgraded Rio Tinto from a buy rating to a hold rating in a research note on Friday, March 1st. ValuEngine raised Rio Tinto from a sell rating to a hold rating in a research note on Saturday, January 5th. Goldman Sachs Group raised Rio Tinto from a neutral rating to a buy rating and set a $56.08 price target on the stock in a research note on Monday, February 11th. Investec downgraded Rio Tinto from a buy rating to a hold rating in a research note on Friday, February 8th. Finally, UBS Group reaffirmed a neutral rating on shares of Rio Tinto in a research note on Wednesday, March 27th. Six equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $62.33.

Shares of NYSE:RIO opened at $60.34 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.98 and a quick ratio of 1.65. Rio Tinto has a 1 year low of $44.62 and a 1 year high of $63.27.

The company also recently declared a semiannual dividend, which will be paid on Thursday, April 18th. Investors of record on Friday, March 8th will be paid a dividend of $1.806 per share. This is an increase from Rio Tinto’s previous semiannual dividend of $1.27. This represents a yield of 6.19%. The ex-dividend date is Thursday, March 7th. Rio Tinto’s dividend payout ratio is 71.01%.

A number of hedge funds have recently bought and sold shares of RIO. Community Bank N.A. raised its stake in shares of Rio Tinto by 4.3% in the fourth quarter. Community Bank N.A. now owns 4,848 shares of the mining company’s stock worth $235,000 after purchasing an additional 200 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Rio Tinto by 10.7% in the fourth quarter. Parallel Advisors LLC now owns 2,164 shares of the mining company’s stock worth $104,000 after purchasing an additional 209 shares during the last quarter. Coastline Trust Co raised its stake in shares of Rio Tinto by 5.1% in the fourth quarter. Coastline Trust Co now owns 6,240 shares of the mining company’s stock worth $302,000 after purchasing an additional 300 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of Rio Tinto by 4.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 7,969 shares of the mining company’s stock worth $386,000 after purchasing an additional 303 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in shares of Rio Tinto by 19.4% in the fourth quarter. Proficio Capital Partners LLC now owns 2,026 shares of the mining company’s stock worth $98,000 after purchasing an additional 329 shares during the last quarter. 7.89% of the stock is currently owned by institutional investors and hedge funds.

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, iron ore, thermal and metallurgical coal, and uranium, as well as industrial minerals, such as borates, titanium dioxide, and salt.

Featured Article: How analysts view the yield curve

Get a free copy of the Zacks research report on Rio Tinto (RIO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations 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.