Rio Tinto (NYSE:RIO) Stock Rating Lowered by Jefferies Financial Group

Jefferies Financial Group downgraded shares of Rio Tinto (NYSE:RIO) from a buy rating to a hold rating in a research note published on Tuesday morning, BenzingaRatingsTable reports. Jefferies Financial Group also issued estimates for Rio Tinto’s FY2019 earnings at $6.02 EPS, FY2020 earnings at $5.22 EPS and FY2021 earnings at $5.23 EPS.

Other research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Rio Tinto from a sell rating to a strong sell rating in a report on Friday, August 2nd. Exane BNP Paribas downgraded shares of Rio Tinto from a neutral rating to an underperform rating in a report on Wednesday, April 10th. Credit Suisse Group downgraded shares of Rio Tinto from a neutral rating to an underperform rating in a report on Wednesday, July 24th. Zacks Investment Research upgraded shares of Rio Tinto from a hold rating to a buy rating and set a $68.00 target price for the company in a report on Tuesday, June 18th. Finally, Investec downgraded shares of Rio Tinto from a buy rating to a hold rating in a report on Wednesday, April 17th. Seven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. Rio Tinto currently has an average rating of Hold and an average price target of $59.77.

RIO opened at $48.78 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.22 and a current ratio of 1.55. The business’s fifty day simple moving average is $59.01. Rio Tinto has a 1-year low of $44.62 and a 1-year high of $64.02. The firm has a market capitalization of $65.58 billion, a P/E ratio of 9.62 and a beta of 0.83.

Several hedge funds have recently made changes to their positions in the company. Personal Wealth Partners bought a new position in Rio Tinto during the second quarter valued at about $25,000. Financial Gravity Wealth Inc. bought a new position in Rio Tinto during the first quarter valued at about $29,000. Liberty Wealth Management LLC grew its position in Rio Tinto by 238.6% during the second quarter. Liberty Wealth Management LLC now owns 491 shares of the mining company’s stock valued at $31,000 after buying an additional 346 shares during the period. First Bank & Trust bought a new position in Rio Tinto during the first quarter valued at about $29,000. Finally, Arrow Financial Corp bought a new position in Rio Tinto during the second quarter valued at about $34,000. Institutional investors own 8.60% of the company’s stock.

Rio Tinto Company Profile

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.

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Analyst Recommendations for Rio Tinto (NYSE:RIO)

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