Rio Tinto PLC (NYSE:RIO) Receives Average Rating of “Hold” from Brokerages

Shares of Rio Tinto PLC (NYSE:RIO) have been given a consensus rating of “Hold” by the sixteen brokerages that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $105.50.

A number of equities analysts recently weighed in on RIO shares. Bank of America lowered shares of Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Rio Tinto in a report on Friday, May 15th. Sanford C. Bernstein boosted their price target on shares of Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Zacks Research downgraded shares of Rio Tinto from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Finally, Berenberg Bank set a $113.00 price objective on shares of Rio Tinto in a report on Thursday, July 30th.

Rio Tinto Price Performance

Shares of RIO opened at $95.64 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.42 and a debt-to-equity ratio of 0.29. Rio Tinto has a 1 year low of $60.22 and a 1 year high of $112.58. The company has a 50 day simple moving average of $96.14 and a two-hundred day simple moving average of $97.07.

Rio Tinto Announces Dividend

The company also recently announced a dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, August 14th will be given a $2.11 dividend. This represents a dividend yield of 441.0%. The ex-dividend date is Friday, August 14th.

Trending Headlines about Rio Tinto

Here are the key news stories impacting Rio Tinto this week:

• Positive Sentiment: Tomago smelter receives long-term support: Australia and New South Wales agreed to provide approximately A$2.5 billion in support to help keep Rio Tinto’s Tomago aluminium smelter operating beyond 2028. The arrangement includes more reliable, competitively priced electricity through 2038 and reduces the risk of a forced closure or costly restructuring. Australia commits $1.76 billion to keep Rio Tinto aluminium smelter open
• Positive Sentiment: Major investment and renewable-power agreement: Tomago Aluminium committed A$1.1 billion of investment, with the smelter expected to transition to 100% renewable electricity by 2033. Securing power through 2038 supports long-term aluminium production, regional employment and asset utilization, although Rio Tinto will still be exposed to aluminium prices and execution costs. Rio Tinto-Backed Tomago Smelter Secures Power Deal Through 2038
• Positive Sentiment: Bullish earnings outlook: Erste Group Bank predicted stronger earnings for Rio Tinto, offering a positive fundamental signal for investors. Erste Group Bank Predicts Stronger Earnings for Rio Tinto
• Neutral Sentiment: Unusually high call-option activity: Traders purchased 102,090 Rio Tinto call options, roughly 25 times the typical daily volume. This indicates speculative bullish positioning, but options activity alone does not guarantee sustained buying in the shares.
• Negative Sentiment: Mining-sector weakness pressured sentiment: Rio Tinto was among miners leading a broader UK market decline. The sector-wide selling likely explains why the stock decreased despite the favorable Tomago agreement and constructive earnings expectations. FTSE 100 Live: UK stocks head lower led by mining sector sell-off

Hedge Funds Weigh In On Rio Tinto

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RIO. Walker Asset Management LLC increased its stake in Rio Tinto by 2.5% in the 2nd quarter. Walker Asset Management LLC now owns 4,866 shares of the mining company’s stock worth $462,000 after acquiring an additional 120 shares during the last quarter. Shrier Wealth Management LLC boosted its position in shares of Rio Tinto by 2.0% during the 2nd quarter. Shrier Wealth Management LLC now owns 20,026 shares of the mining company’s stock valued at $1,901,000 after acquiring an additional 401 shares during the last quarter. Contravisory Investment Management Inc. boosted its position in shares of Rio Tinto by 2,861.8% during the 2nd quarter. Contravisory Investment Management Inc. now owns 3,258 shares of the mining company’s stock valued at $309,000 after acquiring an additional 3,148 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Rio Tinto by 12.9% in the second quarter. Valeo Financial Advisors LLC now owns 3,636 shares of the mining company’s stock valued at $345,000 after purchasing an additional 416 shares in the last quarter. Finally, Trust Point Inc. grew its holdings in shares of Rio Tinto by 2.0% in the second quarter. Trust Point Inc. now owns 5,989 shares of the mining company’s stock valued at $569,000 after purchasing an additional 118 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

About Rio Tinto

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.