Rio Tinto (NYSE:RIO) Given “Equal Weight” Rating at Barclays

Barclays restated their equal weight rating on shares of Rio Tinto (NYSE:RIO) in a research report sent to investors on Tuesday, Marketbeat reports.

A number of other brokerages also recently weighed in on RIO. HSBC downgraded Rio Tinto from a “buy” rating to a “hold” rating in a report on Monday, January 26th. DZ Bank downgraded shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Zacks Research upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Erste Group Bank upgraded shares of Rio Tinto from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, Citigroup upgraded shares of Rio Tinto to a “hold” rating in a report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto presently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Rio Tinto Trading Up 0.5%

Shares of RIO opened at $98.11 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm’s fifty day simple moving average is $88.52 and its two-hundred day simple moving average is $74.86. Rio Tinto has a 12 month low of $51.67 and a 12 month high of $100.33.

Rio Tinto Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Thursday, April 16th. Shareholders of record on Friday, March 6th will be given a $2.54 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a yield of 527.0%.

Institutional Trading of Rio Tinto

Hedge funds have recently added to or reduced their stakes in the stock. Glen Eagle Advisors LLC raised its stake in shares of Rio Tinto by 32.2% in the fourth quarter. Glen Eagle Advisors LLC now owns 452 shares of the mining company’s stock valued at $36,000 after buying an additional 110 shares during the period. Wealth Quarterback LLC increased its holdings in Rio Tinto by 1.8% in the 4th quarter. Wealth Quarterback LLC now owns 6,532 shares of the mining company’s stock worth $523,000 after acquiring an additional 118 shares during the last quarter. Americana Partners LLC raised its stake in Rio Tinto by 0.8% in the 4th quarter. Americana Partners LLC now owns 16,108 shares of the mining company’s stock valued at $1,289,000 after acquiring an additional 120 shares during the period. Cary Street Partners Investment Advisory LLC raised its stake in Rio Tinto by 19.1% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 772 shares of the mining company’s stock valued at $62,000 after acquiring an additional 124 shares during the period. Finally, Bailard Inc. lifted its holdings in Rio Tinto by 1.1% during the fourth quarter. Bailard Inc. now owns 12,306 shares of the mining company’s stock valued at $985,000 after purchasing an additional 128 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Company Profile

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.