Brokerages Set Rio Tinto PLC (NYSE:RIO) Target Price at $81.00

Rio Tinto PLC (NYSE:RIOGet Free Report) has received an average recommendation of “Hold” from the fifteen brokerages that are currently covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $81.00.

Several research analysts have recently commented on RIO shares. JPMorgan Chase & Co. lowered Rio Tinto from an “overweight” rating to a “neutral” rating in a research report on Monday, March 9th. Argus raised their price objective on Rio Tinto from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. DZ Bank lowered Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Morgan Stanley downgraded shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 28th. Finally, Barclays cut shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Tuesday, February 24th.

View Our Latest Research Report on Rio Tinto

Rio Tinto Stock Performance

Rio Tinto stock opened at $83.06 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. The business has a fifty day moving average of $92.57 and a two-hundred day moving average of $78.47. Rio Tinto has a twelve month low of $51.67 and a twelve month high of $101.53.

Rio Tinto Announces Dividend

The company also recently declared a dividend, which will be paid on Thursday, April 16th. Shareholders of record on Friday, March 6th will be issued a $2.54 dividend. This represents a yield of 564.0%. The ex-dividend date of this dividend is Friday, March 6th.

Trending Headlines about Rio Tinto

Here are the key news stories impacting Rio Tinto this week:

Institutional Trading of Rio Tinto

Several hedge funds and other institutional investors have recently made changes to their positions in RIO. Capital Advisors Inc. OK increased its stake in Rio Tinto by 20.6% during the 3rd quarter. Capital Advisors Inc. OK now owns 520,428 shares of the mining company’s stock valued at $34,353,000 after purchasing an additional 89,069 shares in the last quarter. QSM Asset Management Ltd acquired a new stake in shares of Rio Tinto during the third quarter worth $11,509,000. Campbell & CO Investment Adviser LLC lifted its stake in shares of Rio Tinto by 479.6% during the third quarter. Campbell & CO Investment Adviser LLC now owns 144,553 shares of the mining company’s stock worth $9,542,000 after buying an additional 119,614 shares during the period. Synergy Asset Management LLC grew its holdings in shares of Rio Tinto by 272.2% during the third quarter. Synergy Asset Management LLC now owns 205,418 shares of the mining company’s stock valued at $12,712,000 after buying an additional 150,234 shares during the last quarter. Finally, Caprock Group LLC purchased a new stake in shares of Rio Tinto during the third quarter valued at $1,416,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

About Rio Tinto

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Rio Tinto (NYSE:RIO)

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