Rio Tinto (NYSE:RIO) was upgraded by equities research analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report released on Monday, The Fly reports.

A number of other equities research analysts have also weighed in on RIO. CLSA lowered shares of Rio Tinto from an “outperform” rating to an “underperform” rating in a report on Thursday. Zacks Investment Research lowered shares of Rio Tinto from a “hold” rating to a “sell” rating in a report on Saturday, January 19th. Credit Suisse Group lowered shares of Rio Tinto from an “outperform” rating to a “neutral” rating in a report on Thursday, December 13th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Rio Tinto in a report on Wednesday, November 7th. Finally, Societe Generale lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $58.25.

Shares of RIO stock traded down $0.25 during trading hours on Monday, reaching $55.78. 1,903,171 shares of the company’s stock were exchanged, compared to its average volume of 3,061,368. The company has a market cap of $72.50 billion, a PE ratio of 11.65 and a beta of 0.85. 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 fifty-two week low of $44.62 and a fifty-two week high of $60.72.

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in Rio Tinto by 4.3% in the second quarter. Advisors Asset Management Inc. now owns 115,166 shares of the mining company’s stock valued at $6,389,000 after purchasing an additional 4,725 shares during the last quarter. Schroder Investment Management Group purchased a new stake in Rio Tinto in the second quarter valued at $300,000. Bank of Montreal Can boosted its holdings in Rio Tinto by 2.5% in the third quarter. Bank of Montreal Can now owns 557,547 shares of the mining company’s stock valued at $28,446,000 after purchasing an additional 13,551 shares during the last quarter. First Hawaiian Bank purchased a new stake in Rio Tinto in the third quarter valued at $1,439,000. Finally, Valicenti Advisory Services Inc. boosted its holdings in Rio Tinto by 31.8% in the third quarter. Valicenti Advisory Services Inc. now owns 101,272 shares of the mining company’s stock valued at $5,167,000 after purchasing an additional 24,446 shares during the last quarter. 7.14% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Company Profile

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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