Rio Tinto PLC (NYSE:RIO) Receives Average Recommendation of “Hold” from Brokerages

Shares of Rio Tinto PLC (NYSE:RIO) have been given an average rating of “Hold” by the fifteen research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $101.75.

A number of equities research analysts have weighed in on RIO shares. Royal Bank Of Canada downgraded shares of Rio Tinto from a “sector perform” rating to an “underperform” rating in a report on Wednesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Rio Tinto in a report on Wednesday, May 20th. Barclays downgraded shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Tuesday, February 24th. Zacks Research lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, DZ Bank raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th.

Rio Tinto News Summary

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

• Positive Sentiment: Rio Tinto and Sandvik are partnering to advance autonomous open-pit drilling, a move that could improve productivity, lower operating costs, and support long-term margin expansion. Sandvik, Rio Tinto partner to advance autonomous open-pit drilling
• Positive Sentiment: The company also commissioned a low-carbon aluminum smelter expansion in Québec and began work on a $1.5 billion project, reinforcing its push into lower-carbon industrial metals and potentially strengthening its ESG profile. Rio Tinto commissions low-carbon aluminium smelter expansion in Québec
• Positive Sentiment: Rio Tinto’s aluminum exports to the U.S. reportedly rebounded to pre-tariff levels, which suggests improving trade flows and demand conditions for part of its business. Rio Tinto’s aluminum exports to U.S. rebound to pretariff levels
• Positive Sentiment: Broader mining stocks moved higher as copper prices rose, which likely helped sentiment toward Rio Tinto and other miners. FTSE 100 Live: Stocks inch higher as miners rise, BAT and Chemring fall
• Neutral Sentiment: Rio Tinto has shown strong recent share-price momentum, and a market article questioned whether the stock is overvalued after its run-up; this is more of a valuation debate than a direct operational warning. Is Rio Tinto Group (LSE:RIO) Overvalued After Recent Share Price Strength
• Negative Sentiment: A Seeking Alpha piece downgraded Rio Tinto on valuation, which could weigh on sentiment even though it said fundamentals remain intact. Rio Tinto: Downgrading On Valuation, Not Fundamentals
• Negative Sentiment: Rio Tinto also faces a Madagascar rare earths lawsuit, which adds legal and project-related uncertainty. Rio Tinto faces Madagascar rare earths lawsuit

Rio Tinto Price Performance

Shares of NYSE RIO opened at $107.94 on Thursday. Rio Tinto has a twelve month low of $55.64 and a twelve month high of $112.58. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98. The firm has a 50-day moving average of $100.30 and a two-hundred day moving average of $90.56.

Hedge Funds Weigh In On Rio Tinto

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RIO. Arrowstreet Capital Limited Partnership boosted its stake in Rio Tinto by 170.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company’s stock worth $311,023,000 after purchasing an additional 2,451,140 shares during the period. Milford Funds Ltd. acquired a new position in Rio Tinto in the 4th quarter worth approximately $93,143,000. Altshuler Shaham Ltd acquired a new position in Rio Tinto in the 1st quarter worth approximately $106,724,000. Deutsche Bank AG boosted its stake in Rio Tinto by 102.6% in the 4th quarter. Deutsche Bank AG now owns 2,216,935 shares of the mining company’s stock worth $177,421,000 after purchasing an additional 1,122,667 shares during the period. Finally, Natixis Advisors LLC boosted its stake in Rio Tinto by 144.7% in the 4th quarter. Natixis Advisors LLC now owns 1,587,387 shares of the mining company’s stock worth $127,039,000 after purchasing an additional 938,687 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

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.