Berenberg Bank Reaffirms Hold Rating for Rio Tinto (NYSE:RIO)

Rio Tinto (NYSE:RIO)‘s stock had its “hold” rating restated by equities researchers at Berenberg Bank in a report released on Thursday, MarketBeat reports.

A number of other equities research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Rio Tinto from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. Barclays reiterated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday. DZ Bank upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. Morgan Stanley downgraded Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Stock Performance

NYSE RIO opened at $58.94 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. Rio Tinto has a 52-week low of $51.67 and a 52-week high of $72.08. The business’s 50-day moving average price is $59.56 and its 200 day moving average price is $60.05. The firm has a market cap of $73.91 billion, a P/E ratio of 9.14 and a beta of 0.66.

Institutional Trading of Rio Tinto

Institutional investors have recently added to or reduced their stakes in the business. Wayfinding Financial LLC acquired a new stake in shares of Rio Tinto in the 1st quarter valued at about $30,000. Rakuten Securities Inc. raised its stake in shares of Rio Tinto by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after purchasing an additional 211 shares in the last quarter. Mechanics Financial Corp acquired a new stake in shares of Rio Tinto in the 4th quarter valued at about $29,000. Pandora Wealth Inc. acquired a new stake in shares of Rio Tinto in the 1st quarter valued at about $30,000. Finally, Alpine Bank Wealth Management acquired a new stake in shares of Rio Tinto in the 1st quarter valued at about $30,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Company Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.