Rio Tinto (RIO) Downgraded by Zacks Investment Research

Rio Tinto (NYSE:RIO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

According to Zacks, “Rio Tinto PLC is an international mining company. The Company has interests in mining for aluminum, borax, coal, copper, gold, iron ore, lead, silver, tin, uranium, zinc, titanium, dioxide feedstock, diamonds, talc and zircon. RTZ’s various mining operations are located in New Zealand, Australia, South Africa, Europe and Canada. “

RIO has been the subject of a number of other research reports. ValuEngine raised shares of Rio Tinto from a “sell” rating to a “hold” rating in a report on Saturday, January 5th. Credit Suisse Group cut shares of Rio Tinto from an “outperform” rating to a “neutral” rating in a report on Thursday, December 13th. JPMorgan Chase & Co. cut shares of Rio Tinto to a “buy” rating in a report on Thursday, December 6th. 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 analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $58.25.

NYSE RIO opened at $51.64 on Friday. The firm has a market cap of $66.98 billion, a P/E ratio of 10.78 and a beta of 0.76. Rio Tinto has a 1 year low of $44.62 and a 1 year 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.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Trust Department MB Financial Bank N A acquired a new position in Rio Tinto in the 3rd quarter valued at about $102,000. Moody National Bank Trust Division boosted its holdings in Rio Tinto by 54.3% in the 4th quarter. Moody National Bank Trust Division now owns 2,314 shares of the mining company’s stock valued at $112,000 after purchasing an additional 814 shares during the last quarter. Verition Fund Management LLC acquired a new position in Rio Tinto in the 3rd quarter valued at about $213,000. Quadrant Capital Group LLC boosted its holdings in Rio Tinto by 85.5% in the 4th quarter. Quadrant Capital Group LLC now owns 5,479 shares of the mining company’s stock valued at $253,000 after purchasing an additional 2,526 shares during the last quarter. Finally, Sustainable Insight Capital Management LLC acquired a new position in Rio Tinto in the 3rd quarter valued at about $259,000. 7.15% of the stock is owned by institutional investors.

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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