Rio Tinto (NYSE:RIO) Earns “Buy” Rating from Deutsche Bank

Deutsche Bank reiterated their buy rating on shares of Rio Tinto (NYSE:RIO) in a research report sent to investors on Thursday morning, The Fly reports.

A number of other equities analysts have also recently commented on RIO. Investec cut Rio Tinto from a buy rating to a hold rating in a research note on Thursday. Zacks Investment Research downgraded Rio Tinto from a strong-buy rating to a hold rating in a research note on Wednesday. JPMorgan Chase & Co. restated a neutral rating on shares of Rio Tinto in a research note on Wednesday, July 15th. Bank of America upgraded Rio Tinto from a neutral rating to a buy rating in a research report on Friday, May 29th. Finally, UBS Group reiterated a neutral rating on shares of Rio Tinto in a research report on Thursday, June 25th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Rio Tinto presently has a consensus rating of Hold and an average target price of $64.50.

Shares of RIO stock remained flat at $$61.04 on Thursday. The stock had a trading volume of 3,109,873 shares, compared to its average volume of 1,943,182. Rio Tinto has a 12 month low of $35.35 and a 12 month high of $62.94. The firm has a 50 day moving average price of $58.39 and a 200 day moving average price of $52.12. The company has a quick ratio of 1.24, a current ratio of 1.61 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $76.18 billion, a price-to-earnings ratio of 9.64 and a beta of 0.65.

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

A number of institutional investors have recently modified their holdings of RIO. Anderson Hoagland & Co. grew its position in Rio Tinto by 0.9% in the 2nd quarter. Anderson Hoagland & Co. now owns 23,250 shares of the mining company’s stock valued at $1,306,000 after buying an additional 200 shares during the last quarter. Carroll Financial Associates Inc. boosted its position in Rio Tinto by 16.4% during the second quarter. Carroll Financial Associates Inc. now owns 1,759 shares of the mining company’s stock worth $98,000 after acquiring an additional 248 shares during the last quarter. MML Investors Services LLC boosted its position in Rio Tinto by 3.8% during the first quarter. MML Investors Services LLC now owns 7,325 shares of the mining company’s stock worth $334,000 after acquiring an additional 271 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Rio Tinto by 27.3% in the 2nd quarter. Global Retirement Partners LLC now owns 1,323 shares of the mining company’s stock valued at $74,000 after purchasing an additional 284 shares during the last quarter. Finally, TFG Advisers LLC acquired a new position in shares of Rio Tinto during the 4th quarter valued at $26,000. Institutional investors own 7.51% of the company’s stock.

About Rio Tinto

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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