Credit Suisse Group cut shares of Rio Tinto (NYSE:RIO) from a neutral rating to an underperform rating in a report released on Wednesday, 24/7 WallStreet reports.

RIO has been the subject of a number of other research reports. UBS Group lowered their price objective on shares of Broadcom from $325.00 to $310.00 and set a buy rating for the company in a research report on Friday, June 14th. Vertical Group upgraded Calavo Growers from a hold rating to a buy rating and set a $96.00 target price for the company in a report on Thursday, April 4th. Liberum Capital upgraded Rio Tinto from a sell rating to a buy rating in a report on Friday, May 17th. Exane BNP Paribas cut Rio Tinto from a neutral rating to an underperform rating in a report on Wednesday, April 10th. Finally, Zacks Investment Research upgraded HAYS PLC/ADR from a sell rating to a hold rating in a report on Tuesday, June 18th. Seven research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. Rio Tinto currently has an average rating of Hold and an average price target of $61.58.

Shares of RIO traded up $0.23 during trading hours on Wednesday, reaching $57.53. The stock had a trading volume of 1,240,073 shares, compared to its average volume of 2,079,687. The company has a current ratio of 1.98, a quick ratio of 1.65 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 $64.02. The company’s 50-day moving average is $60.65. The company has a market cap of $73.18 billion, a P/E ratio of 11.35 and a beta of 0.81.

A number of hedge funds have recently added to or reduced their stakes in the business. IFG Advisory LLC bought a new position in shares of Rio Tinto in the 1st quarter valued at about $219,000. Belpointe Asset Management LLC bought a new position in shares of Rio Tinto in the 1st quarter valued at about $109,000. Yorktown Management & Research Co Inc grew its holdings in shares of Rio Tinto by 30.0% in the 1st quarter. Yorktown Management & Research Co Inc now owns 13,000 shares of the mining company’s stock valued at $765,000 after acquiring an additional 3,000 shares in the last quarter. GYL Financial Synergies LLC bought a new position in shares of Rio Tinto in the 1st quarter valued at about $256,000. Finally, First Bank & Trust bought a new position in shares of Rio Tinto in the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 8.60% of the company’s stock.

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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