Rio Tinto’s (RIO) Buy Rating Reaffirmed at Deutsche Bank

Deutsche Bank reissued their buy rating on shares of Rio Tinto (NYSE:RIO) in a research note released on Thursday morning, The Fly reports.

Other analysts have also issued reports about the company. Societe Generale reissued a buy rating on shares of Rio Tinto in a report on Thursday, April 23rd. Exane BNP Paribas lowered Rio Tinto from an outperform rating to a neutral rating in a report on Friday, June 5th. UBS Group reaffirmed a neutral rating on shares of Rio Tinto in a report on Thursday, June 25th. Goldman Sachs Group downgraded Rio Tinto from a buy rating to a neutral rating in a research report on Tuesday, July 7th. They noted that the move was a valuation call. Finally, ValuEngine downgraded Rio Tinto from a sell rating to a strong sell rating in a research report on Friday, July 24th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $64.50.

RIO remained flat at $$61.04 during midday trading on Thursday. The company’s stock had a trading volume of 3,109,873 shares, compared to its average volume of 1,943,182. Rio Tinto has a 52-week low of $35.35 and a 52-week high of $62.94. The firm has a market capitalization of $76.18 billion, a price-to-earnings ratio of 9.64 and a beta of 0.65. The business has a fifty day moving average price of $58.39 and a 200 day moving average price of $52.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.61 and a quick ratio of 1.24.

The business also recently declared a semi-annual dividend, which will be paid on Thursday, September 17th. Shareholders of record on Friday, August 7th will be issued a $1.55 dividend. This represents a yield of 6.3%. The ex-dividend date is Thursday, August 6th. Rio Tinto’s payout ratio is presently 72.99%.

Several institutional investors have recently bought and sold shares of RIO. TFG Advisers LLC purchased a new stake in shares of Rio Tinto during the fourth quarter worth approximately $26,000. Harbor Investment Advisory LLC acquired a new position in shares of Rio Tinto in the 1st quarter valued at $27,000. Ballast Advisors LLC acquired a new stake in Rio Tinto during the 1st quarter worth $29,000. Solstein Capital LLC acquired a new stake in Rio Tinto during the 1st quarter worth $39,000. Finally, WASHINGTON TRUST Co purchased a new position in Rio Tinto during the 1st quarter worth $61,000. Institutional investors and hedge funds own 7.51% 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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The Fly

Analyst Recommendations for Rio Tinto (NYSE:RIO)

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