Rio Tinto (RIO) Downgraded by HSBC to Hold
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.
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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