Rio Tinto PLC (NYSE:RIO - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $97.35 and traded as high as $105.39. Rio Tinto shares last traded at $105.33, with a volume of 3,303,212 shares trading hands.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on RIO shares. The Goldman Sachs Group raised Rio Tinto from a "neutral" rating to a "buy" rating in a research note on Wednesday, July 29th. Weiss Ratings raised Rio Tinto from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 30th. Bank of America cut Rio Tinto from a "buy" rating to a "neutral" rating in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Rio Tinto in a research report on Friday, May 15th. Finally, Morgan Stanley lowered shares of Rio Tinto from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $105.50.
View Our Latest Stock Report on RIO
Rio Tinto Price Performance
The company's 50-day moving average price is $95.97 and its 200-day moving average price is $97.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.93 and a current ratio of 1.42.
Rio Tinto Dividend Announcement
The firm also recently declared 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%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. AdvisorNet Financial Inc raised its position in shares of Rio Tinto by 160.2% during the 1st quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company's stock worth $27,000 after acquiring an additional 181 shares in the last quarter. Evelyn Partners Investment Management LLP acquired a new position in Rio Tinto in the fourth quarter valued at approximately $34,000. V Square Quantitative Management LLC acquired a new position in Rio Tinto in the first quarter valued at approximately $35,000. Glen Eagle Advisors LLC increased its stake 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 during the last quarter. Finally, Costello Asset Management INC purchased a new position in Rio Tinto in the first quarter valued at approximately $37,000. 19.33% of the stock is owned by institutional investors and hedge funds.
About Rio Tinto
(
Get Free Report)
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.
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