Rio Tinto plc ADR (NYSE:RIO) was down 6.2% on Monday . The stock traded as low as $50.90 and last traded at $51.23, approximately 2,846,547 shares traded hands during trading. An increase of 77% from the average daily volume of 1,606,679 shares. The stock had previously closed at $54.62.
Several equities research analysts recently weighed in on RIO shares. JPMorgan Chase & Co. downgraded Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Tuesday, December 17th. Zacks Investment Research downgraded Rio Tinto from a “hold” rating to a “sell” rating in a report on Tuesday, February 18th. Royal Bank of Canada downgraded Rio Tinto from a “sector perform” rating to an “underperform” rating in a report on Tuesday, February 11th. BMO Capital Markets downgraded Rio Tinto from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 21st. Finally, Citigroup downgraded Rio Tinto from a “buy” rating to a “neutral” rating in a report on Wednesday, December 11th. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $1,070.06.
The company has a 50-day simple moving average of $56.48 and a 200-day simple moving average of $54.06. The stock has a market cap of $69.48 billion, a PE ratio of 10.10 and a beta of 0.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.55 and a quick ratio of 1.22.A number of large investors have recently added to or reduced their stakes in RIO. Franklin Resources Inc. raised its position in Rio Tinto by 19.6% in the fourth quarter. Franklin Resources Inc. now owns 8,693,406 shares of the mining company’s stock worth $516,041,000 after acquiring an additional 1,425,713 shares in the last quarter. Tdam USA Inc. purchased a new position in Rio Tinto in the fourth quarter worth $38,892,000. 1832 Asset Management L.P. raised its position in Rio Tinto by 1,498.9% in the fourth quarter. 1832 Asset Management L.P. now owns 642,224 shares of the mining company’s stock worth $38,205,000 after acquiring an additional 602,058 shares in the last quarter. SPX Equities Gestao de Recursos Ltda raised its position in Rio Tinto by 552.6% in the fourth quarter. SPX Equities Gestao de Recursos Ltda now owns 694,733 shares of the mining company’s stock worth $41,239,000 after acquiring an additional 588,276 shares in the last quarter. Finally, LMR Partners LLP raised its position in Rio Tinto by 133.8% in the fourth quarter. LMR Partners LLP now owns 626,507 shares of the mining company’s stock worth $37,369,000 after acquiring an additional 358,513 shares in the last quarter. Hedge funds and other institutional investors own 7.47% of the company’s stock.
Rio Tinto Company Profile (NYSE:RIO)
Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.
