According to data from Bloomberg Ratings, the nineteen research firms following Rio Tinto Group (NYSE: RIO) have assigned the stock an average rating of “Hold.” The company has received a “sell” recommendation from two different analysts in the financial industry, a “hold” recommendation from four other analysts, and a “buy” recommendation from eight different analysts. The investment banks and brokerage firms that have updated their company coverage during the previous year have set an average price objective for the firm’s shares for the subsequent year of $5,058.33. In recent days, several different brokerages have provided their comments on RIO. Royal Bank of Canada stated in a research note published on Thursday, July 28, that the price objective they had had for Rio Tinto Group shares had been lowered from GBX 4,900 ($59.21) to GBX 4,700 ($56.79). This was done as a result of a decrease in the price of the share’s underlying asset, which is the Rio Tinto Group.
The pessimistic outlook of Rio Tinto Group was reflected in Deutsche Bank Aktiengesellschaft’s decision to lower their price objective on the firm from GBX 6,000 ($72.50) to GBX 5,800 ($70.08) in a research report that was published on Wednesday, June 29. In a research report issued that day, Jefferies Financial Group changed its rating for Rio Tinto Group from “hold” to “buy.” The report’s subject matter was the shares of the corporation. Rio Tinto Group was the subject of a Morgan Stanley research study published on Tuesday, August 16. Within that analysis, Morgan Stanley lowered their “overweight” rating for the company and its price objective. The former cost GBX 5,990 (which is equivalent to $72.38), while the latter cost GBX 5,900 (which is equivalent to $71.29). Last but not least, the “outperform” recommendation that Credit Suisse Group has on shares of Rio Tinto Group was reiterated in a research note published on July 6. The price of a share of RIO was $55.35 when trading began on Friday.
The simple moving average for the stock over the last 50 days is $58.35, and the simple moving average for the past 200 days is $67.71. Rio Tinto Group has seen its share price range from a low of $53.21 to a high of $84.69 during the past year. There is a debt-to-equity 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. In addition, the business just issued a public announcement regarding a semi-annual dividend scheduled to be paid out on September 22. Shareholders who have their information on record by August 12 will be eligible to receive a $2.67 dividend payment. As this direct result of this fact, the dividend yield totals 11.4%. The day that the dividend will be withheld from shareholder accounts is this coming Thursday, August 11.
In recent days, numerous hedge funds have been quite 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 during the first three months.
Due to the purchase of an additional 623 shares during the most recent fiscal quarter, Checchi Capital Advisers LLC now has 9,462 shares of the common stock held by the mining company. These 9,462 shares have a total market value of $761,000. During the first quarter, Rothschild Investment Corp., IL, contributed an additional $418,000 to the deal, thereby increasing the company’s ownership in Rio Tinto Group. Over the first three months, Koshinski Asset Management Inc. boosted the percentage of Rio Tinto Group stock owned by 68.0%. With the purchase of 657 additional shares during the most recent quarter, Koshinski Asset Management Inc. now has 1,623 shares of the mining company’s stock, which are currently valued at $130,000. This brings the total number of shares owned by the firm to 1,623. In addition, financial Counselors Inc. boosted the amount of Rio Tinto Group stock that is owned by 3.9% over the first three months of the year.
Financial Counselors Inc. now has a total of 5,744 shares of the common stock of the mining company, which are now valued at $462,000 after purchasing an additional 218 shares throughout the quarter. And finally, over the last three months of 2018, Commerce Bank completed a 71.5% increase in the amount of Rio Tinto Group holdings it had. The most recent fiscal quarter saw Commerce Bank buy 4,130 shares of the stock held by the mining firm. This brings the total number of shares owned by the financial institution to 9,908 and gives them a value of $663,000. Institutional investors own 10.5% of the company’s shares, which is less than 1% of the total number of shares that are currently out there.
The Rio Tinto Group is an international business that focuses on the prospecting, mining 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 mills, refineries, smelters, power plants, research and development centers, and open-pit and underground mines, in addition to owning and operating refineries and smelters.