Rio Tinto (NYSE:RIO) Cut to “Equal Weight” at Barclays

Barclays cut shares of Rio Tinto (NYSE:RIOFree Report) from an overweight rating to an equal weight rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports.

Other research analysts also recently issued research reports about the stock. Citigroup raised shares of Rio Tinto to a “hold” rating in a report on Tuesday, February 10th. Erste Group Bank upgraded Rio Tinto from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Rio Tinto in a research report on Thursday, January 22nd. Zacks Research raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. Finally, Weiss Ratings upgraded Rio Tinto from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Rio Tinto presently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Check Out Our Latest Research Report on Rio Tinto

Rio Tinto Stock Performance

Shares of NYSE:RIO opened at $99.10 on Tuesday. Rio Tinto has a 1-year low of $51.67 and a 1-year high of $101.53. The firm’s 50 day simple moving average is $89.42 and its two-hundred day simple moving average is $75.21. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Rio Tinto Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, April 16th. Shareholders of record on Friday, March 6th will be paid a $2.54 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a yield of 527.0%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MidFirst Bank purchased a new position in shares of Rio Tinto in the fourth quarter valued at $107,000. SG Trading Solutions LLC bought a new position in Rio Tinto during the fourth quarter valued at $438,000. Amanah Holdings Trust purchased a new position in shares of Rio Tinto in the 4th quarter worth $3,601,000. Virtu Financial LLC bought a new stake in shares of Rio Tinto in the 4th quarter worth about $493,000. Finally, Compound Planning Inc. raised its position in shares of Rio Tinto by 33.9% during the 4th quarter. Compound Planning Inc. now owns 19,074 shares of the mining company’s stock valued at $1,527,000 after buying an additional 4,834 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

More Rio Tinto News

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About Rio Tinto

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Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.

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