Rio Tinto PLC (NYSE:RIO) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Consensus "Hold": Fifteen analysts cover Rio Tinto with a consensus Hold (10 hold, 4 buy, 1 strong buy) and an average 12‑month target price of $81.00.
• Dividend announced: Rio Tinto declared a dividend of $2.54 per share, with an ex‑dividend date of March 6 and payment on April 16.
• Institutional buying: Several institutions notably increased stakes (Arrowstreet +170.8%, Deutsche Bank +102.6%, Natixis +144.7%), and institutional investors own about 19.33% of the company.

Shares of Rio Tinto PLC (NYSE:RIO - Get Free Report) have earned a consensus recommendation of "Hold" from the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $81.00.

RIO has been the topic of several recent analyst reports. Morgan Stanley cut shares of Rio Tinto from an "overweight" rating to an "equal weight" rating in a report on Wednesday, January 28th. Argus boosted their target price on shares of Rio Tinto from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, December 11th. DZ Bank lowered shares of Rio Tinto from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 20th. HSBC lowered shares of Rio Tinto from a "buy" rating to a "hold" rating in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. lowered shares of Rio Tinto from an "overweight" rating to a "neutral" rating in a research note on Monday, March 9th.

Rio Tinto Stock Up 0.6%

RIO opened at $94.56 on Wednesday. The firm's fifty day moving average price is $93.41 and its 200 day moving average price is $81.05. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Rio Tinto has a 12-month low of $51.67 and a 12-month high of $101.53.

Rio Tinto Announces Dividend

The firm also recently announced a dividend, which will be paid on Thursday, April 16th. Shareholders of record on Friday, March 6th will be paid a dividend of $2.54 per share. The ex-dividend date is Friday, March 6th. This represents a yield of 564.0%.

Institutional Trading of Rio Tinto

Several institutional investors have recently added to or reduced their stakes in RIO. Arrowstreet Capital Limited Partnership increased its stake in Rio Tinto by 170.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company's stock valued at $311,023,000 after purchasing an additional 2,451,140 shares during the last quarter. Milford Funds Ltd. bought a new position in shares of Rio Tinto during the fourth quarter worth about $93,143,000. Deutsche Bank AG grew its position in shares of Rio Tinto by 102.6% during the fourth quarter. Deutsche Bank AG now owns 2,216,935 shares of the mining company's stock worth $177,421,000 after acquiring an additional 1,122,667 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Rio Tinto by 144.7% during the fourth quarter. Natixis Advisors LLC now owns 1,587,387 shares of the mining company's stock worth $127,039,000 after acquiring an additional 938,687 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Rio Tinto by 31.9% during the third quarter. Bank of America Corp DE now owns 3,157,545 shares of the mining company's stock worth $208,430,000 after acquiring an additional 763,786 shares during the last quarter. Institutional investors own 19.33% of the company's stock.

Rio Tinto Company Profile

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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