CLSA Lowers Rio Tinto (RIO) to Underperform
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.
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.
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