Rio Tinto (NYSE:RIO) had its target price boosted by analysts at Argus to $61.00 in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the mining company’s stock. Argus’ price target points to a potential upside of 5.10% from the company’s previous close.

Several other research firms have also commented on RIO. HSBC lowered Rio Tinto from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Cowen restated a “market perform” rating and set a $61.00 target price (up from $54.00) on shares of Rio Tinto in a research note on Thursday, January 18th. Zacks Investment Research downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Societe Generale upgraded Rio Tinto from a “hold” rating to a “buy” rating in a research note on Wednesday, November 8th. Finally, Citigroup downgraded Rio Tinto from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $56.27.

Rio Tinto (NYSE RIO) traded up $2.33 during trading hours on Wednesday, reaching $58.04. The company’s stock had a trading volume of 5,440,703 shares, compared to its average volume of 3,170,000. The company has a quick ratio of 1.40, a current ratio of 1.71 and a debt-to-equity ratio of 0.30. Rio Tinto has a one year low of $37.66 and a one year high of $58.20. The stock has a market capitalization of $103,440.00, a price-to-earnings ratio of 11.89 and a beta of 1.09.

Institutional investors have recently made changes to their positions in the company. Zions Bancorporation grew its stake in shares of Rio Tinto by 2,992.2% during the third quarter. Zions Bancorporation now owns 2,381 shares of the mining company’s stock valued at $112,000 after acquiring an additional 2,304 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Rio Tinto by 212.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,187 shares of the mining company’s stock worth $135,000 after purchasing an additional 2,166 shares in the last quarter. Advisor Partners LLC acquired a new position in Rio Tinto in the fourth quarter worth about $219,000. Mackenzie Financial Corp acquired a new position in Rio Tinto in the fourth quarter worth about $212,000. Finally, Adviser Investments LLC acquired a new position in Rio Tinto in the third quarter worth about $207,000. Institutional investors own 7.24% of the company’s stock.

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About Rio Tinto

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

Analyst Recommendations for Rio Tinto (NYSE:RIO)

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