Rio Tinto (NYSE:RIO)‘s stock had its “neutral” rating reissued by equities researchers at UBS Group in a report released on Friday, Borsen Zeitung reports.

Other equities research analysts also recently issued research reports about the company. Vertical Group upgraded Rio Tinto from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. BNP Paribas cut Rio Tinto from a “neutral” rating to an “underperform” rating in a research note on Wednesday, April 10th. Zacks Investment Research cut Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Barclays cut Rio Tinto from an “equal weight” rating to an “underweight” rating in a research note on Thursday, June 6th. Finally, Liberum Capital raised Rio Tinto from a “sell” rating to a “buy” rating in a research note on Friday, May 17th. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $61.58.

Shares of RIO stock opened at $60.77 on Friday. The company has a quick ratio of 1.65, a current ratio of 1.98 and a debt-to-equity ratio of 0.26. Rio Tinto has a 52-week low of $44.62 and a 52-week high of $63.27.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Berman Capital Advisors LLC bought a new position in shares of Rio Tinto during the fourth quarter valued at about $25,000. First Bank & Trust bought a new position in shares of Rio Tinto during the first quarter valued at about $29,000. Financial Gravity Wealth Inc. bought a new position in shares of Rio Tinto during the first quarter valued at about $29,000. Coastal Investment Advisors Inc. bought a new position in shares of Rio Tinto during the first quarter valued at about $36,000. Finally, Doyle Wealth Management bought a new position in shares of Rio Tinto during the fourth quarter valued at about $39,000. 8.60% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Company Profile

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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Analyst Recommendations for Rio Tinto (NYSE:RIO)

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