Zacks Investment Research cut shares of Rio Tinto (NYSE:RIO) from a strong-buy rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

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. “

A number of other brokerages have also recently commented on RIO. BNP Paribas cut Rio Tinto from a neutral rating to an underperform rating in a research note on Wednesday, April 10th. Exane BNP Paribas cut Rio Tinto from a neutral rating to an underperform rating in a research note on Wednesday, April 10th. Vertical Group raised Rio Tinto from a sell rating to a hold rating in a research note on Thursday, April 4th. Vertical Research raised Rio Tinto from a sell rating to a hold rating in a research note on Thursday, April 4th. Finally, Goldman Sachs Group cut Rio Tinto from a buy rating to a neutral rating in a research note on Wednesday, February 27th. They noted that the move was a valuation call. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. Rio Tinto currently has an average rating of Hold and a consensus price target of $62.33.

Shares of Rio Tinto stock opened at $60.77 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 1.98. The company has a market capitalization of $77.30 billion, a price-to-earnings ratio of 11.99 and a beta of 0.84. Rio Tinto has a one year low of $44.62 and a one year high of $63.27.

The business also recently declared a semiannual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, March 8th were paid a $1.806 dividend. This is a boost from Rio Tinto’s previous semiannual dividend of $1.27. This represents a yield of 6.19%. The ex-dividend date was Thursday, March 7th. Rio Tinto’s payout ratio is 71.01%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Berman Capital Advisors LLC purchased a new position in shares of Rio Tinto during the fourth quarter valued at approximately $25,000. First Bank & Trust purchased a new position in shares of Rio Tinto during the first quarter valued at approximately $29,000. Financial Gravity Wealth Inc. purchased a new position in shares of Rio Tinto during the first quarter valued at approximately $29,000. Doyle Wealth Management purchased a new position in shares of Rio Tinto during the fourth quarter valued at approximately $39,000. Finally, Financial Gravity Companies Inc. purchased a new position in shares of Rio Tinto during the fourth quarter valued at approximately $46,000. 7.89% of the stock is currently 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, iron ore, thermal and metallurgical coal, and uranium, as well as industrial minerals, such as borates, titanium dioxide, and salt.

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