Zacks Investment Research cut shares of Rio Tinto plc ADR Common Stock (NYSE:RIO) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning.

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 analysts have also commented on RIO. Jefferies Financial Group reissued a buy rating and issued a $68.00 target price on shares of Rio Tinto plc ADR Common Stock in a report on Monday, April 9th. Vertical Group began coverage on Rio Tinto plc ADR Common Stock in a report on Monday, April 9th. They issued a sell rating and a $41.00 price objective for the company. HSBC raised Rio Tinto plc ADR Common Stock from a hold rating to a buy rating in a report on Wednesday, April 18th. Barclays reaffirmed an equal weight rating on shares of Rio Tinto plc ADR Common Stock in a report on Friday, May 4th. Finally, ValuEngine lowered Rio Tinto plc ADR Common Stock from a buy rating to a hold rating in a report on Saturday, June 2nd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. Rio Tinto plc ADR Common Stock has an average rating of Hold and an average price target of $57.06.

Rio Tinto plc ADR Common Stock opened at $51.65 on Tuesday, MarketBeat Ratings reports. The firm has a market capitalization of $69.59 billion, a price-to-earnings ratio of 10.78 and a beta of 1.13. Rio Tinto plc ADR Common Stock has a 12 month low of $43.88 and a 12 month high of $60.72. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.77 and a quick ratio of 1.41.

The company also recently disclosed a semiannual dividend, which will be paid on Thursday, September 20th. Investors of record on Friday, August 10th will be issued a $1.271 dividend. This represents a dividend yield of 4.9%. The ex-dividend date of this dividend is Thursday, August 9th. Rio Tinto plc ADR Common Stock’s payout ratio is currently 23.17%.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Naples Global Advisors LLC grew its holdings in Rio Tinto plc ADR Common Stock by 8.4% during the second quarter. Naples Global Advisors LLC now owns 47,545 shares of the mining company’s stock valued at $2,638,000 after purchasing an additional 3,700 shares during the period. Randolph Co Inc grew its holdings in Rio Tinto plc ADR Common Stock by 0.5% during the second quarter. Randolph Co Inc now owns 340,020 shares of the mining company’s stock valued at $18,864,000 after purchasing an additional 1,840 shares during the period. Bank of New York Mellon Corp grew its holdings in Rio Tinto plc ADR Common Stock by 4.9% during the fourth quarter. Bank of New York Mellon Corp now owns 53,466 shares of the mining company’s stock valued at $2,829,000 after purchasing an additional 2,515 shares during the period. Oppenheimer & Co. Inc. grew its holdings in Rio Tinto plc ADR Common Stock by 203.7% during the first quarter. Oppenheimer & Co. Inc. now owns 38,880 shares of the mining company’s stock valued at $2,003,000 after purchasing an additional 26,077 shares during the period. Finally, M&T Bank Corp grew its holdings in Rio Tinto plc ADR Common Stock by 20.0% during the first quarter. M&T Bank Corp now owns 53,930 shares of the mining company’s stock valued at $2,778,000 after purchasing an additional 9,003 shares during the period. 7.48% of the stock is owned by institutional investors.

Rio Tinto plc ADR Common Stock Company Profile

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.

Read More: How are Outstanding Shares Different from Authorized Shares?

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Analyst Recommendations for Rio Tinto plc ADR Common Stock (NYSE:RIO)

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