Analysts have assigned a “Hold” rating to the Rio Tinto group (NYSE: RIO).
According to data from Bloomberg Ratings, the nineteen research firms that track Rio Tinto Group (NYSE: RIO) gave the stock an average rating of “Hold”. The company received a “sell” recommendation from two different financial industry analysts, a “hold” recommendation from four other analysts and a “buy” recommendation from eight different analysts. Investment banks and brokerage firms that updated their corporate coverage in the previous year set an average price target for the company’s shares for the following year of 5,058, $33. In recent days, several different brokerages have provided their comments on RIO. Royal Bank of Canada said in a research note released Thursday, July 28 that the price target it had set for Rio Tinto Group shares had been lowered by 4,900 GBX ($59.21) at 4,700 GBX ($56.79). This was done following a fall in the price of the underlying asset of the share, which is the Rio Tinto group.
Rio Tinto Group’s pessimistic outlook was reflected in Deutsche Bank Aktiengesellschaft’s decision to lower its price target on the company from 6,000 GBX ($72.50) to 5,800 GBX ($70.08) in a research report published on Wednesday, June 29. report released that day, Jefferies Financial Group changed its rating for Rio Tinto Group from “hold” to “buy.” The subject of the report was the shares of the company. The Rio Tinto group was the subject of a research study by Morgan Stanley published on Tuesday August 16. As part of this analysis, Morgan Stanley lowered its “overweight” rating for the company and its price target. The former costs 5,990 GBX (which equals $72.38), while the latter costs 5,900 GBX (which equals $71.29). Finally, Credit Suisse Group’s “outperformance” recommendation on Rio Tinto Group shares was reiterated in a research note published on July 6. RIO’s share price was $55.35 when trading began on Friday.
The simple moving average for the stock over the past 50 days is $58.35 and the simple moving average over the past 200 days is $67.71. The Rio Tinto Group has seen its share price rise from a low of $53.21 to a high of $84.69 over the past year. There is a leverage ratio of 0.21, a quick ratio of 1.34 and a current ratio of 1.79. All of these ratios are at their respective historical lows. Additionally, the company has just released a public announcement regarding a semi-annual dividend that is expected to be paid on September 22. Shareholders who have their information on file by August 12 will be eligible to receive a dividend payment of $2.67. As a direct consequence of this fact, the dividend yield amounts to 11.4%. The day on which the dividend will be withheld from the shareholders’ accounts is this Thursday, August 11th.
In recent days, many hedge funds have been very active in buying and selling RIO shares. Checchi Capital Advisers, LLC increased the proportion of Rio Tinto Group shares held in its portfolio by seven points zero percent in the first three months.
Due to the purchase of 623 additional shares during the last fiscal quarter, Checchi Capital Advisers LLC now owns 9,462 common shares held by the mining company. These 9,462 shares have a total market value of $761,000. During the first quarter, Rothschild Investment Corp., Illinois, contributed an additional $418,000 to the transaction, increasing the company’s stake in Rio Tinto Group. During the first three months, Koshinski Asset Management Inc. increased the percentage of Rio Tinto Group shares held to 68.0%. With the purchase of 657 additional shares in the last quarter, Koshinski Asset Management Inc. now owns 1,623 shares of the mining company, which are currently valued at $130,000. This brings the total number of shares held by the company to 1,623. In addition, Financial Counselors Inc. increased the number of Rio Tinto Group shares held to 3.9% in the first three months of the year. year.
Financial Counselors Inc. now owns a total of 5,744 common shares of the mining company, which are now valued at $462,000 after purchasing 218 additional shares during the quarter. And finally, in the last three months of 2018, Commerce Bank achieved a 71.5% increase in the amount of Rio Tinto Group holdings it held. The last fiscal quarter saw Commerce Bank buy 4,130 shares held by the mining company. This brings the total number of shares held by the financial institution to 9,908 and gives them a value of $663,000. Institutional investors hold 10.5% of the company’s shares, less than 1% of the total number of shares currently available.
The Rio Tinto group is an international company that focuses on the exploration, exploitation and processing of a wide variety of natural resources. This particular company deals in various commodities, including but not limited to aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore and lithium. In addition, it owns and operates factories, refineries, smelters, power plants, research and development centers and surface and underground mines, in addition to owning and operating refineries and smelters.