CLSA downgraded shares of Rio Tinto (NYSE:RIO) from an outperform rating to an underperform rating in a research note issued to investors on Thursday, Marketbeat.com reports.

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut Rio Tinto to a buy rating in a report on Thursday, December 6th. Credit Suisse Group cut Rio Tinto from an outperform rating to a neutral rating in a research note on Thursday, December 13th. BMO Capital Markets reaffirmed a buy rating on shares of Rio Tinto in a report on Tuesday, October 16th. Societe Generale downgraded Rio Tinto from a buy rating to a hold rating in a research report on Wednesday, October 24th. Finally, ValuEngine raised shares of Rio Tinto from a sell rating to a hold rating in a research note on Saturday, January 5th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. Rio Tinto has an average rating of Hold and a consensus price target of $58.25.

NYSE RIO opened at $56.03 on Thursday. The company has a market cap of $72.64 billion, a price-to-earnings ratio of 11.70 and a beta of 0.85. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.77 and a quick ratio of 1.41. Rio Tinto has a 1-year low of $44.62 and a 1-year high of $60.72.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gilman Hill Asset Management LLC raised its stake in shares of Rio Tinto by 8.5% in the third quarter. Gilman Hill Asset Management LLC now owns 38,284 shares of the mining company’s stock worth $1,953,000 after buying an additional 2,985 shares during the period. Crossmark Global Holdings Inc. raised its holdings in shares of Rio Tinto by 9.8% during the third quarter. Crossmark Global Holdings Inc. now owns 203,774 shares of the mining company’s stock valued at $10,397,000 after acquiring an additional 18,266 shares during the last quarter. Capital Guardian Trust Co. grew its position in shares of Rio Tinto by 7.2% in the third quarter. Capital Guardian Trust Co. now owns 191,236 shares of the mining company’s stock valued at $9,757,000 after purchasing an additional 12,872 shares in the last quarter. Eqis Capital Management Inc. grew its position in Rio Tinto by 79.4% in the fourth quarter. Eqis Capital Management Inc. now owns 15,100 shares of the mining company’s stock worth $732,000 after acquiring an additional 6,681 shares during the period. Finally, FMR LLC raised its stake in shares of Rio Tinto by 3.8% in the third quarter. FMR LLC now owns 271,670 shares of the mining company’s stock valued at $13,861,000 after acquiring an additional 9,956 shares in the last quarter. 7.14% 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, 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.

Further Reading: Technical Analysis of Stocks and What It Means

Analyst Recommendations for Rio Tinto (NYSE:RIO)

Receive News & Ratings for Rio Tinto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto and related companies with MarketBeat.com's FREE daily email newsletter.