HSBC lowered shares of Rio Tinto (NYSE:RIO) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, The Fly reports.

A number of other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Rio Tinto from a buy rating to a hold rating in a research note on Wednesday, December 13th. JPMorgan Chase & Co. lowered shares of Rio Tinto from an overweight rating to a neutral rating in a research note on Thursday, December 14th. Societe Generale raised shares of Rio Tinto from a hold rating to a buy rating in a research note on Wednesday, November 8th. Royal Bank of Canada lowered shares of Rio Tinto from an outperform rating to a sector perform rating and upped their price objective for the company from $47.87 to $48.37 in a research note on Monday, October 23rd. Finally, Citigroup reaffirmed a buy rating on shares of Rio Tinto in a research note on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $51.59.

Rio Tinto (RIO) traded down $1.89 during trading hours on Tuesday, hitting $55.78. 3,844,800 shares of the stock were exchanged, compared to its average volume of 2,956,860. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.34 and a current ratio of 1.71. Rio Tinto has a 12 month low of $37.66 and a 12 month high of $57.78. The company has a market cap of $101,490.00, a price-to-earnings ratio of 16.26 and a beta of 1.01.

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its position in shares of Rio Tinto by 10.1% during the 4th quarter. Bank of Montreal Can now owns 567,503 shares of the mining company’s stock valued at $30,039,000 after acquiring an additional 52,025 shares during the period. KCS Wealth Advisory acquired a new position in shares of Rio Tinto during the 4th quarter valued at $572,000. Bremer Trust National Association lifted its position in shares of Rio Tinto by 5.4% during the 4th quarter. Bremer Trust National Association now owns 31,760 shares of the mining company’s stock valued at $1,682,000 after acquiring an additional 1,638 shares during the period. Sawyer & Company Inc acquired a new position in shares of Rio Tinto during the 4th quarter valued at $491,000. Finally, Grassi Investment Management lifted its position in shares of Rio Tinto by 1.5% during the 4th quarter. Grassi Investment Management now owns 162,263 shares of the mining company’s stock valued at $8,589,000 after acquiring an additional 2,475 shares during the period. Institutional investors own 7.24% of the company’s stock.

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Rio Tinto Company Profile

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.

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Analyst Recommendations for Rio Tinto (NYSE:RIO)

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