Rio Tinto plc ADR (NYSE:RIO) shares reached a new 52-week low on Thursday . The stock traded as low as $45.25 and last traded at $46.04, with a volume of 328189 shares traded. The stock had previously closed at $47.38.
Several research firms have recently weighed in on RIO. Zacks Investment Research cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. ValuEngine cut shares of Rio Tinto from a “hold” rating to a “sell” rating in a report on Monday, October 8th. JPMorgan Chase & Co. cut shares of Rio Tinto to a “buy” rating in a report on Thursday. Societe Generale cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Rio Tinto in a report on Tuesday, October 16th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $58.80.
The company has a market cap of $60.13 billion, a P/E ratio of 9.60 and a beta of 0.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.77 and a quick ratio of 1.41.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Great Lakes Advisors LLC bought a new position in Rio Tinto in the third quarter valued at $388,000. Lombard Odier Asset Management USA Corp increased its stake in Rio Tinto by 59.8% in the third quarter. Lombard Odier Asset Management USA Corp now owns 80,171 shares of the mining company’s stock valued at $4,090,000 after acquiring an additional 30,000 shares during the last quarter. Impala Asset Management LLC increased its stake in Rio Tinto by 37.9% in the third quarter. Impala Asset Management LLC now owns 3,394,180 shares of the mining company’s stock valued at $173,171,000 after acquiring an additional 933,679 shares during the last quarter. Banco de Sabadell S.A increased its stake in Rio Tinto by 35.1% in the third quarter. Banco de Sabadell S.A now owns 18,961 shares of the mining company’s stock valued at $970,000 after acquiring an additional 4,930 shares during the last quarter. Finally, Henry James International Management Inc. bought a new position in Rio Tinto in the third quarter valued at $353,000. 7.16% of the stock is currently owned by institutional investors and hedge funds.
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Rio Tinto Company Profile (NYSE:RIO)
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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