Rio Tinto plc ADR Common Stock (RIO) Trading Down 5%


Rio Tinto plc ADR Common Stock (NYSE:RIO) traded down 5% during mid-day trading on Wednesday . The stock traded as low as $52.98 and last traded at $53.38. 6,098,501 shares were traded during trading, an increase of 99% from the average session volume of 3,070,225 shares. The stock had previously closed at $56.21.


Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised Rio Tinto plc ADR Common Stock from a “neutral” rating to an “overweight” rating in a report on Thursday, June 7th. Deutsche Bank downgraded Rio Tinto plc ADR Common Stock from a “buy” rating to a “hold” rating in a report on Monday, June 11th. Zacks Investment Research downgraded Rio Tinto plc ADR Common Stock from a “hold” rating to a “sell” rating in a report on Tuesday, June 12th. HSBC downgraded Rio Tinto plc ADR Common Stock from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. Finally, Investec cut Rio Tinto plc ADR Common Stock from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $57.23.


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The company has a debt-to-equity ratio of 0.30, a current ratio of 1.71 and a quick ratio of 1.40. The stock has a market capitalization of $75.39 billion, a price-to-earnings ratio of 11.14 and a beta of 1.18.

Hedge funds have recently bought and sold shares of the business. Fisher Asset Management LLC bought a new position in shares of Rio Tinto plc ADR Common Stock in the second quarter worth $227,812,000. BlackRock Inc. increased its position in shares of Rio Tinto plc ADR Common Stock by 3.4% in the first quarter. BlackRock Inc. now owns 1,414,549 shares of the mining company’s stock worth $72,892,000 after purchasing an additional 45,961 shares during the period. Northern Trust Corp increased its position in shares of Rio Tinto plc ADR Common Stock by 1.9% in the first quarter. Northern Trust Corp now owns 1,182,368 shares of the mining company’s stock worth $60,927,000 after purchasing an additional 22,194 shares during the period. Millennium Management LLC increased its position in shares of Rio Tinto plc ADR Common Stock by 63.2% in the fourth quarter. Millennium Management LLC now owns 1,022,195 shares of the mining company’s stock worth $54,105,000 after purchasing an additional 395,984 shares during the period. Finally, Sei Investments Co. increased its position in shares of Rio Tinto plc ADR Common Stock by 70.6% in the first quarter. Sei Investments Co. now owns 885,779 shares of the mining company’s stock worth $45,644,000 after purchasing an additional 366,553 shares during the period. Hedge funds and other institutional investors own 7.02% of the company’s stock.


About Rio Tinto plc ADR Common Stock

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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