Rio Tinto’s (RIO) Buy Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their buy rating on shares of Rio Tinto (NYSE:RIO) in a research note published on Wednesday morning.

A number of other research firms also recently issued reports on RIO. BMO Capital Markets restated a buy rating on shares of Rio Tinto in a research report on Tuesday, October 16th. ValuEngine downgraded shares of Rio Tinto from a hold rating to a sell rating in a research report on Monday, October 8th. Deutsche Bank restated a neutral rating on shares of Rio Tinto in a research report on Monday, July 16th. Zacks Investment Research downgraded shares of Rio Tinto from a hold rating to a strong sell rating in a research report on Tuesday, August 7th. Finally, Investec downgraded shares of Rio Tinto from a buy rating to a hold rating in a research report on Wednesday, September 5th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $58.80.

NYSE:RIO traded down $0.12 during mid-day trading on Wednesday, reaching $52.09. 215,570 shares of the company were exchanged, compared to its average volume of 2,846,016. Rio Tinto has a 12 month low of $45.62 and a 12 month high of $60.72. The company has a quick ratio of 1.41, a current ratio of 1.77 and a debt-to-equity ratio of 0.27. The firm has a market cap of $68.12 billion, a P/E ratio of 10.88 and a beta of 1.01.

A number of institutional investors have recently added to or reduced their stakes in the business. Trust Department MB Financial Bank N A acquired a new stake in shares of Rio Tinto in the 3rd quarter valued at approximately $102,000. Whittier Trust Co. raised its position in shares of Rio Tinto by 605.9% in the 2nd quarter. Whittier Trust Co. now owns 2,047 shares of the mining company’s stock valued at $111,000 after acquiring an additional 1,757 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Rio Tinto in the 2nd quarter valued at approximately $166,000. Brown Advisory Inc. acquired a new stake in shares of Rio Tinto in the 2nd quarter valued at approximately $201,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Rio Tinto by 2,042.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,985 shares of the mining company’s stock valued at $216,000 after acquiring an additional 3,799 shares during the period. Institutional investors own 7.46% of the company’s stock.

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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