Rio Tinto PLC (NYSE:RIO) Stock Rated “Hold” by Wall Street Analysts

Shares of Rio Tinto PLC (NYSE:RIO) have been assigned a consensus recommendation of “Hold” from the nineteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $101.62.

A number of research analysts have recently commented on the company. Morningstar raised Rio Tinto to a “hold” rating in a report on Tuesday, July 14th. Erste Group Bank cut Rio Tinto from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. DZ Bank reiterated a “buy” rating on shares of Rio Tinto in a report on Tuesday, September 15th. Morgan Stanley assumed coverage on shares of Rio Tinto in a research report on Monday, August 24th. They issued an “underweight” rating and a $90.00 price target on the stock. Finally, UBS Group restated a “neutral” rating on shares of Rio Tinto in a research note on Thursday, July 30th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. AdvisorNet Financial Inc raised its position in Rio Tinto by 160.2% in the first quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. Timbuktu Capital Management LLC bought a new position in Rio Tinto during the second quarter worth about $28,000. Center for Financial Planning Inc. acquired a new stake in Rio Tinto during the third quarter valued at approximately $28,000. V Square Quantitative Management LLC acquired a new stake in Rio Tinto during the first quarter valued at approximately $35,000. Finally, Lodestone Wealth Management LLC grew its stake in shares of Rio Tinto by 92.8% in the 3rd quarter. Lodestone Wealth Management LLC now owns 374 shares of the mining company’s stock valued at $35,000 after purchasing an additional 180 shares during the period. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Trading Down 1.6%

Shares of NYSE:RIO opened at $81.95 on Friday. Rio Tinto has a fifty-two week low of $67.74 and a fifty-two week high of $112.58. The business has a 50-day moving average of $95.38 and a two-hundred day moving average of $96.25. The company has a quick ratio of 0.93, a current ratio of 1.42 and a debt-to-equity ratio of 0.29.

Rio Tinto Company Profile

Rio Tinto plc is a diversified mining and metals company with operations and projects spanning multiple continents. Its principal products include iron ore, aluminum, copper, lithium, borates and titanium dioxide, which are supplied to customers in the steel, construction, automotive, technology and manufacturing industries.

The company explores for, mines, processes and transports mineral resources, while also operating related infrastructure such as railways, ports, smelters and processing facilities.