JPMorgan Chase & Co. Lowers Rio Tinto (NYSE:RIO) to Neutral

JPMorgan Chase & Co. lowered shares of Rio Tinto (NYSE:RIO) from an overweight rating to a neutral rating in a research report sent to investors on Monday, February 4th, MarketBeat Ratings reports.

RIO has been the topic of several other research reports. Goldman Sachs Group upgraded Rio Tinto from a neutral rating to a buy rating in a report on Tuesday, October 9th. ValuEngine cut Rio Tinto from a hold rating to a sell rating in a research report on Monday, October 8th. Zacks Investment Research cut Rio Tinto from a hold rating to a sell rating in a research report on Saturday, January 19th. Credit Suisse Group cut Rio Tinto from an outperform rating to a neutral rating in a research report on Thursday, December 13th. Finally, Societe Generale cut Rio Tinto from a buy rating to a hold rating in a research report on Wednesday, October 24th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $57.02.

Shares of RIO stock traded up $0.16 on Monday, hitting $58.36. The stock had a trading volume of 2,538,101 shares, compared to its average volume of 3,199,003. The company has a current ratio of 1.77, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27. Rio Tinto has a 1 year low of $44.62 and a 1 year high of $60.72. The company has a market capitalization of $74.83 billion, a PE ratio of 11.51 and a beta of 0.85.

The company also recently disclosed a semiannual dividend, which will be paid on Thursday, April 18th. Investors of record on Friday, March 8th will be paid a $1.806 dividend. This is an increase from Rio Tinto’s previous semiannual dividend of $1.27. This represents a yield of 6.19%. The ex-dividend date of this dividend is Thursday, March 7th. Rio Tinto’s dividend payout ratio (DPR) is presently 50.10%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Community Bank N.A. grew its holdings in Rio Tinto by 4.3% during the 4th quarter. Community Bank N.A. now owns 4,848 shares of the mining company’s stock valued at $235,000 after buying an additional 200 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Rio Tinto by 10.7% during the fourth quarter. Parallel Advisors LLC now owns 2,164 shares of the mining company’s stock worth $104,000 after purchasing an additional 209 shares during the last quarter. Coastline Trust Co boosted its holdings in shares of Rio Tinto by 5.1% during the fourth quarter. Coastline Trust Co now owns 6,240 shares of the mining company’s stock worth $302,000 after purchasing an additional 300 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Rio Tinto by 4.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 7,969 shares of the mining company’s stock worth $386,000 after purchasing an additional 303 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Rio Tinto by 19.4% during the fourth quarter. Proficio Capital Partners LLC now owns 2,026 shares of the mining company’s stock worth $98,000 after purchasing an additional 329 shares during the last quarter. 7.15% of the stock is owned by hedge funds and other institutional investors.

About Rio Tinto

Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.

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Analyst Recommendations for Rio Tinto (NYSE:RIO)

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