Rio Tinto (NYSE:RIO) Earns Hold (C) Rating from Weiss Ratings

Rio Tinto (NYSE:RIO - Get Free Report)'s stock had its "hold (c)" rating reiterated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other research firms have also issued reports on RIO. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft lowered Rio Tinto from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Morgan Stanley reiterated an "overweight" rating on shares of Rio Tinto in a research report on Monday, July 14th. Zacks Research upgraded Rio Tinto from a "hold" rating to a "strong-buy" rating in a research report on Monday. Finally, Berenberg Bank reiterated a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Rio Tinto Price Performance

NYSE:RIO opened at $67.66 on Wednesday. The business's 50-day moving average price is $62.90 and its 200 day moving average price is $60.65. The firm has a market cap of $84.86 billion, a P/E ratio of 10.49, a PEG ratio of 4.65 and a beta of 0.66. Rio Tinto has a 52-week low of $51.67 and a 52-week high of $68.18. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37.

Hedge Funds Weigh In On Rio Tinto

Several institutional investors and hedge funds have recently bought and sold shares of RIO. Alpine Bank Wealth Management purchased a new position in Rio Tinto during the 1st quarter valued at about $30,000. Wayfinding Financial LLC purchased a new position in Rio Tinto during the 1st quarter valued at about $30,000. Pandora Wealth Inc. acquired a new stake in shares of Rio Tinto during the 1st quarter valued at about $30,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Rio Tinto during the 2nd quarter valued at about $38,000. Finally, Bfsg LLC lifted its holdings in shares of Rio Tinto by 5,754.5% during the 1st quarter. Bfsg LLC now owns 644 shares of the mining company's stock valued at $39,000 after buying an additional 633 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Company Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.

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