ValuEngine upgraded shares of Rio Tinto (NYSE:RIO) from a sell rating to a hold rating in a research note published on Monday morning.

Several other analysts also recently commented on RIO. Deutsche Bank reaffirmed a neutral rating on shares of Rio Tinto in a research report on Monday, July 16th. Zacks Investment Research raised shares of Rio Tinto from a sell rating to a buy rating and set a $64.00 price objective for the company in a research report on Wednesday, June 20th. HSBC raised shares of Rio Tinto from a hold rating to a buy rating in a research report on Thursday, June 21st. Jefferies Financial Group set a $67.00 price objective on shares of Rio Tinto and gave the stock a buy rating in a research report on Wednesday, August 1st. Finally, JPMorgan Chase & Co. raised shares of Rio Tinto from a neutral rating to an overweight rating in a research report on Thursday, June 7th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $57.06.

Shares of RIO stock opened at $51.48 on Monday. The company has a market cap of $68.11 billion, a PE ratio of 10.75 and a beta of 1.12. Rio Tinto has a 52 week low of $45.62 and a 52 week high of $60.72. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.77 and a quick ratio of 1.41.

The firm also recently declared a semiannual dividend, which was paid on Thursday, September 20th. Investors of record on Friday, August 10th were given a $1.271 dividend. This represents a yield of 4.9%. The ex-dividend date was Thursday, August 9th. Rio Tinto’s payout ratio is currently 53.03%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fisher Asset Management LLC acquired a new stake in Rio Tinto in the 2nd quarter valued at $227,812,000. Boston Partners grew its position in Rio Tinto by 2,390.4% in the 2nd quarter. Boston Partners now owns 3,204,017 shares of the mining company’s stock valued at $177,759,000 after purchasing an additional 3,075,360 shares during the period. BlackRock Inc. grew its position in Rio Tinto by 3.4% in the 1st quarter. BlackRock Inc. now owns 1,414,549 shares of the mining company’s stock valued at $72,892,000 after purchasing an additional 45,961 shares during the period. Northern Trust Corp grew its position in Rio Tinto by 4.3% in the 2nd quarter. Northern Trust Corp now owns 1,233,665 shares of the mining company’s stock valued at $68,444,000 after purchasing an additional 51,297 shares during the period. Finally, Sei Investments Co. grew its position in Rio Tinto by 0.9% in the 2nd quarter. Sei Investments Co. now owns 894,180 shares of the mining company’s stock valued at $49,610,000 after purchasing an additional 8,401 shares during the period. 7.12% of the stock is owned by institutional investors and hedge funds.

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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