Published: Sat, May 12, 2018
Markets | By Otis Pena

Rio Tinto (RIO) Lowered to Equal Weight at Barclays


Credit Suisse Group restated an "outperform" rating and issued a GBX 4,300 ($58.33) target price on shares of Rio Tinto in a report on Tuesday, March 13th. Mackenzie Financial Corp bought a new stake in Rio Tinto during the fourth quarter valued at approximately $212,000. The stock increased 0.48% or $0.08 during the last trading session, reaching $16.59. About 1.04M shares traded. It has outperformed by 8.82% the S&P500.

Based on the latest 2018Q1 regulatory filing with the SEC, Cadinha & Co Llc decreased its holdings in Rio Tinto Plc Sp Adr (NYSE:RIO) by 97.83%. The rating was downgraded by Barclays Capital to "Equal-Weight" on Friday, May 4.

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Rio Tinto plc, a mining and metals company, finds, mines, processes, and markets mineral resources.The firm is valued at $98.09 billion. Rio Tinto has a 52-week low of GBX 2,882.50 ($39.10) and a 52-week high of GBX 4,226.56 ($57.33). About 2.20M shares traded. This is an increase from Rio Tinto's previous semiannual dividend of $1.26. It has outperformed by 14.45% the S&P500.

More important recent Rio Tinto plc (NYSE:RIO) news were published by: Seekingalpha.com which released: "Alcoa, Rio Tinto to launch first carbon-free aluminum smelting process" on May 10, 2018, also Investingnews.com published article titled: "BHP: Premium Iron Ore Miners Set to Gain From China Reforms", Forbes.com published: "Rio Tinto Q1 2018 Review: Iron Ore Output Displays Growth; Adjustment To Aluminum Production Looms" on April 19, 2018. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company's stock. Therefore 43% are positive. Since November 13, 2017 according to StockzIntelligence Inc Rio Tinto Plc has 10 analyst reports. Jefferies has "Buy" rating and $69.0 target. The third largest holder is Goldman Sachs Group Inc, which now holds $260.71 million worth of this stock and that ownership represents almost 0.26% of its market capitalization. The ex-dividend date of this dividend was Thursday, March 1st. FinnCap maintained the stock with "Corporate" rating in Tuesday, January 24 report. The firm has "Buy" rating by HSBC given on Wednesday, April 18. The rating was downgraded by Citigroup to "Sell" on Wednesday, October 12. JPMorgan Chase set a GBX 4,200 ($56.97) target price on shares of Rio Tinto and gave the company a neutral rating in a report on Monday, February 5th. The rating was upgraded by Morgan Stanley to "Overweight" on Thursday, August 6. The company rating was downgraded by BNP Paribas on Friday, April 6. Therefore 100% are positive. News Corporation had 15 analyst reports since July 27, 2015 according to SRatingsIntel. The stock has "Buy" rating by Oppenheimer on Thursday, July 27. Rio Tinto has an average rating of "Buy" and an average price target of GBX 4,166.25 ($56.51). The firm earned "Buy" rating on Monday, September 11 by Jefferies. Cowen & Co maintained the stock with "Market Perform" rating in Tuesday, May 3 report. J.P. Morgan has "Hold" rating and $75.0 target. The company was maintained on Monday, November 2 by Stifel Nicolaus.

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