Rio Tinto (NYSE:RIO) was downgraded by stock analysts at HSBC from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, The Fly reports.
RIO has been the topic of several other reports. JPMorgan Chase & Co. lowered shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, November 13th. Citigroup reaffirmed a “buy” rating on shares of Rio Tinto in a report on Tuesday, December 5th. Royal Bank of Canada lowered shares of Rio Tinto from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $47.87 to $48.37 in a report on Monday, October 23rd. Cowen set a $47.00 price target on shares of Rio Tinto and gave the company a “hold” rating in a report on Monday, October 16th. Finally, Zacks Investment Research raised shares of Rio Tinto from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Rio Tinto currently has a consensus rating of “Hold” and a consensus target price of $51.59.
Rio Tinto (RIO) traded up $0.43 during mid-day trading on Tuesday, reaching $57.67. 2,364,000 shares of the company’s stock traded hands, compared to its average volume of 2,858,200. The company has a current ratio of 1.71, a quick ratio of 1.34 and a debt-to-equity ratio of 0.31. Rio Tinto has a 52-week low of $37.66 and a 52-week high of $57.78. The company has a market cap of $101,290.00, a price-to-earnings ratio of 16.81 and a beta of 1.01.
Rio Tinto Company Profile
Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.
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