Rio Tinto PLC (RIO) Rating Lowered to Neutral at J P Morgan Chase & Co

Rio Tinto PLC (NYSE:RIO) was downgraded by stock analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports.

RIO has been the subject of several other reports. Royal Bank Of Canada cut shares of Rio Tinto PLC from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $47.87 to $48.37 in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Rio Tinto PLC from a “strong sell” rating to a “hold” rating in a report on Saturday, August 5th. ValuEngine cut shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Citigroup Inc. cut shares of Rio Tinto PLC from a “buy” rating to a “neutral” rating in a report on Tuesday, October 17th. Finally, Jefferies Group LLC set a $55.00 price target on shares of Rio Tinto PLC and gave the stock a “buy” rating in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $50.07.

Rio Tinto PLC (NYSE:RIO) traded down $1.38 during mid-day trading on Monday, hitting $47.83. 1,755,816 shares of the company traded hands, compared to its average volume of 3,332,728. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 0.31. Rio Tinto PLC has a twelve month low of $36.25 and a twelve month high of $50.77.

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Large investors have recently added to or reduced their stakes in the company. HPM Partners LLC grew its stake in shares of Rio Tinto PLC by 1.3% in the second quarter. HPM Partners LLC now owns 10,211 shares of the mining company’s stock worth $432,000 after acquiring an additional 132 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of Rio Tinto PLC by 0.5% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 30,150 shares of the mining company’s stock valued at $1,276,000 after buying an additional 150 shares during the last quarter. Bollard Group LLC raised its holdings in shares of Rio Tinto PLC by 3.0% in the second quarter. Bollard Group LLC now owns 7,196 shares of the mining company’s stock valued at $304,000 after buying an additional 210 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of Rio Tinto PLC by 2.7% in the second quarter. Moors & Cabot Inc. now owns 9,997 shares of the mining company’s stock valued at $425,000 after buying an additional 264 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Rio Tinto PLC by 2.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 11,821 shares of the mining company’s stock valued at $500,000 after buying an additional 281 shares during the last quarter. 7.02% of the stock is currently owned by institutional investors.

About Rio Tinto PLC

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

Analyst Recommendations for Rio Tinto PLC (NYSE:RIO)

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