FY2027 EPS Estimates for Rio Tinto Cut by Erste Group Bank

Rio Tinto PLC (NYSE:RIO) – Investment analysts at Erste Group Bank decreased their FY2027 earnings per share estimates for shares of Rio Tinto in a report released on Tuesday, May 5th. Erste Group Bank analyst S. Lingnau now forecasts that the mining company will post earnings of $8.31 per share for the year, down from their previous estimate of $8.34. Erste Group Bank currently has a “Buy” rating on the stock. The consensus estimate for Rio Tinto’s current full-year earnings is $8.56 per share.

Other equities research analysts have also recently issued reports about the company. Barclays cut Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 24th. Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto in a research report on Monday, April 13th. HSBC cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Monday, January 26th. Weiss Ratings upgraded shares of Rio Tinto from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Finally, Argus set a $120.00 price objective on shares of Rio Tinto in a report on Monday, April 27th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $101.75.

Rio Tinto Stock Performance

RIO opened at $107.82 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average price is $95.07 and its two-hundred day moving average price is $86.26. Rio Tinto has a 12-month low of $55.64 and a 12-month high of $108.43.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in Rio Tinto by 4.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 55,776 shares of the mining company’s stock valued at $5,203,000 after buying an additional 2,286 shares during the period. DJE Kapital AG bought a new position in shares of Rio Tinto during the 1st quarter worth about $4,853,000. Parallel Advisors LLC boosted its position in shares of Rio Tinto by 34.1% during the 1st quarter. Parallel Advisors LLC now owns 8,612 shares of the mining company’s stock valued at $803,000 after acquiring an additional 2,189 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Rio Tinto in the first quarter valued at about $388,000. Finally, Crescent Grove Advisors LLC raised its position in Rio Tinto by 316.7% in the first quarter. Crescent Grove Advisors LLC now owns 23,866 shares of the mining company’s stock worth $2,263,000 after purchasing an additional 18,139 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

Rio Tinto Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, April 16th. Investors of record on Friday, March 6th were paid a $2.54 dividend. This represents a dividend yield of 564.0%. The ex-dividend date was Friday, March 6th.

About Rio Tinto

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.