CLSA Lowers Rio Tinto (RIO) to Underperform

CLSA lowered shares of Rio Tinto (NYSE:RIO) from an outperform rating to an underperform rating in a research report sent to investors on Thursday morning, MarketBeat reports.

A number of other research firms have also recently commented on RIO. Canaccord Genuity raised Rio Tinto from a hold rating to a buy rating in a research note on Thursday, January 31st. ValuEngine raised Rio Tinto from a sell rating to a hold rating in a research report on Saturday, January 5th. Zacks Investment Research upgraded Rio Tinto from a strong sell rating to a hold rating in a research note on Friday, January 25th. BMO Capital Markets reissued a buy rating on shares of Rio Tinto in a report on Tuesday, October 16th. Finally, JPMorgan Chase & Co. lowered Rio Tinto to a buy rating in a research report on Thursday, December 6th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $58.25.

NYSE RIO opened at $56.03 on Thursday. Rio Tinto has a one year low of $44.62 and a one year high of $60.72. The firm has a market cap of $72.64 billion, a PE ratio of 11.70 and a beta of 0.85. The company has a current ratio of 1.77, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27.

A number of hedge funds have recently bought and sold shares of the business. Doyle Wealth Management purchased a new position in shares of Rio Tinto in the 4th quarter worth approximately $39,000. Financial Gravity Companies Inc. acquired a new position in shares of Rio Tinto during the fourth quarter valued at approximately $46,000. Reilly Financial Advisors LLC grew its position in Rio Tinto by 57.8% in the fourth quarter. Reilly Financial Advisors LLC now owns 1,365 shares of the mining company’s stock worth $66,000 after acquiring an additional 500 shares during the period. Proficio Capital Partners LLC raised its stake in shares of Rio Tinto by 19.4% in the fourth quarter. Proficio Capital Partners LLC now owns 2,026 shares of the mining company’s stock valued at $98,000 after acquiring an additional 329 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its stake in Rio Tinto by 829.3% in the fourth quarter. AdvisorNet Financial Inc now owns 2,063 shares of the mining company’s stock valued at $100,000 after buying an additional 1,841 shares in the last quarter. 7.14% of the stock is currently owned by institutional investors.

Rio Tinto Company Profile

Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.

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Analyst Recommendations for Rio Tinto (NYSE:RIO)

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