Were Analysts Bearish Rio Tinto plc (NYSE:RIO) This Week?

Marco Green
February 23, 2018

Rio Tinto has $75.0 highest and $14 lowest target. Nepsis Capital Management Inc bought 57,425 shares as the company's stock declined 9.05% while stock markets rallied. The Deroy & Devereaux Private Investment Counsel Inc holds 19,150 shares with $904,000 value, down from 30,150 last quarter.

It sees Rio Tinto maintaining net debt around $7 billion (£5.05 billion) to $8 billion over the next two years, based on strong cash flow assuming its biggest earner, iron ore, averages $55 a tonne for the rest of 2018 and $50 in 2019. Zions Bancorporation now owns 2,381 shares of the mining company's stock worth $112,000 after purchasing an additional 2,304 shares in the last quarter. The shares were purchased at an average cost of GBX 3,490 ($48.22) per share, for a total transaction of £909,703.40 ($1,256,843.60).

Rio Tinto plc, a mining and metals company, finds, mines, processes, and markets mineral resources. It has outperformed by 27.03% the S&P500.

Among 29 analysts covering Rio Tinto PLC (LON:RIO), 17 have Buy rating, 2 Sell and 10 Hold. Therefore 52% are positive. (The) set a GBX 2,900 ($38.27) price objective on shares of Rio Tinto plc and gave the company a neutral rating in a research report on Thursday, August 3rd.

Rio Tinto Plc (NYSE:RIO) now has a "Sell" signals on Composite indicators by TrendSpotter. The stock of Rio Tinto plc (NYSE:RIO) earned "Hold" rating by Jefferies on Tuesday, August 23. The stock of Rio Tinto plc (NYSE:RIO) earned "Outperform" rating by RBC Capital Markets on Tuesday, August 15. Rio Tinto plc (NYSE:RIO) has risen 43.73% since February 15, 2017 and is uptrending. Zacks Investment Research cut Rio Tinto from a "buy" rating to a "hold" rating in a research report on Wednesday, December 13th. As per Tuesday, June 7, the company rating was upgraded by Citigroup. The stock of Rio Tinto plc (LON:RIO) has "Accumulate" rating given on Monday, September 14 by Charles Stanley. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company's stock.

Deroy & Devereaux Private Investment Counsel Inc increased Dun & Bradstreet Corp (NYSE:DNB) stake by 3,700 shares to 22,850 valued at $2.66 million in 2017Q3. It also reduced its holding in Twilio Inc by 73,989 shares in the quarter, leaving it with 147,221 shares, and cut its stake in Citigroup Inc (NYSE:C). Bank Of Ny Mellon (NYSE:BK) was raised too. Convergence Limited Liability Corporation owns 13,043 shares for 0.03% of their portfolio. Moreover, California State Teachers Retirement Systems has 0.01% invested in Santander Consumer USA Holdings Inc. Advisor Partners LLC bought a new stake in shares of Rio Tinto in the 4th quarter worth approximately $219,000.

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