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

Key Points

• Consensus "Hold": Fifteen analysts give Rio Tinto a consensus Hold (11 hold, 4 buy) with an average 12‑month price target of $101.75.
• Recent analyst actions are mixed: Sanford C. Bernstein raised its target and kept an outperform view, while Barclays, Morgan Stanley and JPMorgan have trimmed ratings to equal‑weight/neutral.
• Institutional inflows and stock position: Several large funds (Arrowstreet, Deutsche Bank, Natixis, Milford) materially increased positions, institutional ownership is roughly 19.33%, and the share price is trading near its one‑year high at about $100 with 50‑/200‑day moving averages of $94.47 and $84.88.

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 firm, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $101.75.

A number of brokerages recently issued reports on RIO. Sanford C. Bernstein lifted their target price on Rio Tinto from $82.00 to $83.50 and gave the company an "outperform" rating in a research report on Monday, April 27th. Citigroup reissued a "neutral" rating on shares of Rio Tinto in a research report on Monday, April 13th. Barclays lowered Rio Tinto from an "overweight" rating to an "equal weight" rating in a research report on Tuesday, February 24th. Morgan Stanley lowered Rio Tinto from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. lowered Rio Tinto from an "overweight" rating to a "neutral" rating in a research report on Monday, March 9th.

Rio Tinto Stock Performance

NYSE RIO opened at $100.61 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock's 50-day moving average is $94.47 and its 200-day moving average is $84.88. Rio Tinto has a one year low of $55.64 and a one year high of $101.53.

Rio Tinto Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, April 16th. Investors of record on Friday, March 6th were given a $2.54 dividend. This represents a yield of 564.0%. The ex-dividend date of this dividend was Friday, March 6th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RIO. Arrowstreet Capital Limited Partnership increased its position in shares of Rio Tinto by 170.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company's stock worth $311,023,000 after purchasing an additional 2,451,140 shares during the last quarter. Milford Funds Ltd. acquired a new position in shares of Rio Tinto during the 4th quarter worth approximately $93,143,000. Deutsche Bank AG increased its position in shares of Rio Tinto by 102.6% during the 4th quarter. Deutsche Bank AG now owns 2,216,935 shares of the mining company's stock worth $177,421,000 after purchasing an additional 1,122,667 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Rio Tinto by 144.7% during the 4th quarter. Natixis Advisors LLC now owns 1,587,387 shares of the mining company's stock worth $127,039,000 after purchasing an additional 938,687 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Rio Tinto by 31.9% during the 3rd quarter. Bank of America Corp DE now owns 3,157,545 shares of the mining company's stock worth $208,430,000 after purchasing an additional 763,786 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

About Rio Tinto

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.