Erste Group Bank Raises Earnings Estimates for Rio Tinto

Key Points

• Erste Group Bank raised Rio Tinto’s FY2027 earnings estimate to $8.44 per share from $8.31, slightly above the $8.43 consensus forecast, while maintaining a “Hold” rating.
• Analyst sentiment remains mixed, with Rio Tinto carrying a consensus “Hold” rating and an average price target of $103.12; shares opened at $97.56.
• Institutional investors own 19.33% of the company, and Rio Tinto declared a $2.11 per-share dividend payable September 24 to shareholders of record as of August 14.

Rio Tinto PLC (NYSE:RIO - Free Report) - Analysts at Erste Group Bank lifted their FY2027 earnings estimates for shares of Rio Tinto in a research report issued on Friday, September 18th. Erste Group Bank analyst S. Lingnau now expects that the mining company will post earnings of $8.44 per share for the year, up from their prior forecast of $8.31. Erste Group Bank has a "Hold" rating on the stock. The consensus estimate for Rio Tinto's current full-year earnings is $8.43 per share.

Several other analysts also recently issued reports on RIO. Zacks Research raised shares of Rio Tinto from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 2nd. Morgan Stanley began coverage on Rio Tinto in a research note on Monday, August 24th. They set an "underweight" rating and a $90.00 price target for the company. DZ Bank raised Rio Tinto from a "hold" rating to a "strong-buy" rating in a report on Friday, May 29th. The Goldman Sachs Group raised Rio Tinto from a "neutral" rating to a "buy" rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded Rio Tinto from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $103.12.

Rio Tinto Stock Up 0.5%

RIO stock opened at $97.56 on Wednesday. Rio Tinto has a 1-year low of $63.29 and a 1-year high of $112.58. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.42 and a quick ratio of 0.93. The stock has a 50-day moving average price of $98.52 and a 200-day moving average price of $98.00.

Hedge Funds Weigh In On Rio Tinto

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Miramontes Capital LLC increased its holdings in Rio Tinto by 1.7% in the 2nd quarter. Miramontes Capital LLC now owns 5,863 shares of the mining company's stock valued at $557,000 after buying an additional 99 shares during the period. Glen Eagle Advisors LLC grew its position in Rio Tinto by 32.2% in the fourth quarter. Glen Eagle Advisors LLC now owns 452 shares of the mining company's stock valued at $36,000 after purchasing an additional 110 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Rio Tinto by 2.0% in the second quarter. Parkside Financial Bank & Trust now owns 5,865 shares of the mining company's stock valued at $557,000 after acquiring an additional 114 shares during the last quarter. Asset Allocation Strategies LLC increased its position in Rio Tinto by 4.0% during the second quarter. Asset Allocation Strategies LLC now owns 3,010 shares of the mining company's stock worth $286,000 after buying an additional 117 shares during the last quarter. Finally, Trust Point Inc. increased its holdings in shares of Rio Tinto by 2.0% during the 2nd quarter. Trust Point Inc. now owns 5,989 shares of the mining company's stock worth $569,000 after acquiring an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Announces Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, September 24th. Shareholders of record on Friday, August 14th will be paid a $2.11 dividend. The ex-dividend date is Friday, August 14th. This represents a yield of 441.0%.

Rio Tinto Company Profile

Rio Tinto plc is a global mining and metals company with operations and projects spanning approximately 35 countries. Founded in 1873, the company operates through a dual-listed structure in the United Kingdom and Australia, with its American depositary receipts traded on the New York Stock Exchange under the symbol RIO.

The company explores, develops and produces a range of mineral resources. Its principal products include iron ore, aluminum, copper, lithium, borates, titanium dioxide feedstocks and diamonds.

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