Rio Tinto (NYSE:RIO) Cut to “Hold” at Renaissance Capital
Renaissance Capital lowered shares of Rio Tinto (NYSE:RIO) from a buy rating to a hold rating in a report issued on Tuesday morning, The Fly reports.
Several other equities analysts also recently weighed in on the company. Vertical Group upgraded Calavo Growers from a hold rating to a buy rating and set a $96.00 target price on the stock in a research report on Thursday, April 4th. Liberum Capital upgraded Rio Tinto from a sell rating to a buy rating in a research report on Friday, May 17th. Societe Generale upgraded Anglo American from a hold rating to a buy rating in a research report on Wednesday, May 22nd. Goldman Sachs Group initiated coverage on Beyond Meat in a research report on Monday, May 27th. They set a neutral rating and a $67.00 target price on the stock. Finally, BNP Paribas downgraded Rio Tinto from a neutral rating to an underperform rating in a research report on Wednesday, April 10th. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $61.58.
RIO stock opened at $60.65 on Tuesday. The stock has a market cap of $77.14 billion, a P/E ratio of 11.96 and a beta of 0.81. Rio Tinto has a 1 year low of $44.62 and a 1 year high of $64.02. The company has a current ratio of 1.98, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average price of $60.44.
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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