FY2019 EPS Estimates for Rio Tinto plc ADR Cut by Analyst (RIO)
Rio Tinto plc ADR (NYSE:RIO) – Investment analysts at Jefferies Financial Group decreased their FY2019 earnings per share estimates for Rio Tinto in a research report issued on Monday, October 8th. Jefferies Financial Group analyst C. Lafemina now expects that the mining company will post earnings per share of $4.95 for the year, down from their prior estimate of $5.01. Jefferies Financial Group currently has a “Buy” rating and a $67.00 target price on the stock. Jefferies Financial Group also issued estimates for Rio Tinto’s FY2020 earnings at $4.75 EPS.
Several other research analysts also recently commented on the company. Goldman Sachs Group raised Rio Tinto from a “neutral” rating to a “buy” rating in a report on Tuesday. ValuEngine lowered Rio Tinto from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. JPMorgan Chase & Co. raised Rio Tinto from a “neutral” rating to an “overweight” rating in a research report on Monday, September 10th. Investec lowered Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, September 5th. Finally, Liberum Capital raised Rio Tinto from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.06.
The firm also recently disclosed a semiannual dividend, which was paid on Thursday, September 20th. Stockholders of record on Friday, August 10th were given a $1.271 dividend. This represents a dividend yield of 4.9%. The ex-dividend date of this dividend was Thursday, August 9th. Rio Tinto’s dividend payout ratio (DPR) is presently 53.03%.
Several hedge funds have recently bought and sold shares of RIO. Trust Department MB Financial Bank N A bought a new position in shares of Rio Tinto in the 3rd quarter worth about $102,000. Gables Capital Management Inc. bought a new stake in Rio Tinto in the 1st quarter valued at about $103,000. Whittier Trust Co. increased its position in Rio Tinto by 605.9% in the 2nd quarter. Whittier Trust Co. now owns 2,047 shares of the mining company’s stock valued at $111,000 after buying an additional 1,757 shares in the last quarter. Summit Trail Advisors LLC increased its position in Rio Tinto by 5,481.0% in the 1st quarter. Summit Trail Advisors LLC now owns 137,405 shares of the mining company’s stock valued at $137,000 after buying an additional 134,943 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Rio Tinto in the 2nd quarter valued at about $166,000. 7.12% of the stock is owned by hedge funds and other 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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