Rio Tinto PLC (NYSE:RIO) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Rio Tinto PLC has received an average recommendation of "Moderate Buy" from analysts, with five holds, three buys, and three strong buys among the ratings from eleven firms.
• The company's current market cap stands at $85.55 billion, and its shares recently traded at $68.21, close to its fifty-two week high of $68.91.
• Rio Tinto has declared a semi-annual dividend of $1.48 per share, reflective of a significant yield of 620.0%, though the company has also recently cut its dividend.

Rio Tinto PLC (NYSE:RIO - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eleven research firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, three have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $73.00.

Several analysts have commented on the company. Deutsche Bank Aktiengesellschaft cut Rio Tinto from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. Weiss Ratings reissued a "hold (c)" rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Berenberg Bank reaffirmed a "hold" rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Finally, Zacks Research upgraded Rio Tinto from a "hold" rating to a "strong-buy" rating in a report on Monday, October 6th.

Rio Tinto Trading Up 0.1%

Shares of Rio Tinto stock opened at $68.21 on Wednesday. The firm has a market cap of $85.55 billion, a PE ratio of 10.58, a P/E/G ratio of 4.78 and a beta of 0.66. The business's fifty day moving average is $63.49 and its two-hundred day moving average is $60.78. Rio Tinto has a fifty-two week low of $51.67 and a fifty-two week high of $68.91. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37.

Rio Tinto Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, August 15th were paid a $1.48 dividend. This represents a dividend yield of 620.0%. The ex-dividend date of this dividend was Friday, August 15th. Rio Tinto's payout ratio is currently 45.74%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Amundi increased its position in shares of Rio Tinto by 224.0% in the first quarter. Amundi now owns 230,891 shares of the mining company's stock worth $13,491,000 after acquiring an additional 159,636 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Rio Tinto by 24.2% during the 1st quarter. Farther Finance Advisors LLC now owns 4,023 shares of the mining company's stock worth $242,000 after purchasing an additional 785 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Rio Tinto during the 1st quarter worth $357,000. Acadian Asset Management LLC lifted its stake in shares of Rio Tinto by 37.9% during the first quarter. Acadian Asset Management LLC now owns 57,595 shares of the mining company's stock worth $3,458,000 after purchasing an additional 15,839 shares in the last quarter. Finally, Central Valley Advisors LLC acquired a new position in shares of Rio Tinto during the second quarter worth about $1,530,000. 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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