Rio Tinto (NYSE:RIO) Upgraded to Overweight by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Rio Tinto (NYSE:RIO) from a neutral rating to an overweight rating in a report released on Tuesday, The Fly reports.

Other analysts have also issued reports about the stock. Liberum Capital lowered shares of Rio Tinto from a buy rating to a hold rating in a research report on Wednesday, July 24th. Barclays lowered shares of Rio Tinto from an equal weight rating to an underweight rating in a research report on Thursday, June 6th. Investec lowered shares of Rio Tinto from a buy rating to a hold rating in a research report on Wednesday, April 17th. Zacks Investment Research lowered shares of Rio Tinto from a buy rating to a hold rating in a research report on Thursday, August 8th. Finally, BMO Capital Markets lowered shares of Rio Tinto from an outperform rating to a market perform rating in a research report on Thursday, June 27th. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $59.77.

Rio Tinto stock opened at $50.01 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.55 and a quick ratio of 1.22. Rio Tinto has a 1-year low of $44.62 and a 1-year high of $64.02. The stock has a market cap of $63.61 billion, a price-to-earnings ratio of 9.86 and a beta of 0.83. The stock has a 50-day moving average price of $58.09.

Several large investors have recently modified their holdings of the company. Hudock Capital Group LLC increased its position in shares of Rio Tinto by 5.2% during the second quarter. Hudock Capital Group LLC now owns 3,667 shares of the mining company’s stock worth $228,000 after acquiring an additional 181 shares during the period. AdvisorNet Financial Inc increased its position in shares of Rio Tinto by 11.8% during the second quarter. AdvisorNet Financial Inc now owns 2,090 shares of the mining company’s stock worth $130,000 after acquiring an additional 220 shares during the period. JNBA Financial Advisors increased its position in shares of Rio Tinto by 15.4% during the second quarter. JNBA Financial Advisors now owns 1,662 shares of the mining company’s stock worth $104,000 after acquiring an additional 222 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of Rio Tinto by 2.2% during the first quarter. Checchi Capital Advisers LLC now owns 10,232 shares of the mining company’s stock valued at $602,000 after purchasing an additional 225 shares in the last quarter. Finally, Hamilton Point Investment Advisors LLC boosted its stake in shares of Rio Tinto by 0.7% during the second quarter. Hamilton Point Investment Advisors LLC now owns 35,218 shares of the mining company’s stock valued at $2,196,000 after purchasing an additional 230 shares in the last quarter. 8.64% of the stock is currently owned by institutional investors and hedge funds.

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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