Article
Leadership & Strategy
Is it time to buy Rio Tinto shares?
By Harry Allan
May 19, 2020
undefined mins
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Rio Tinto has been subject to close scrutiny of its shares in recent years. In recent months, it appears that the miner’s shares could be shifting - out of 16 analysts, seven rate it a “Buy”, five “Sell”, with four recommending “Hold”. This means that the shares have an overall positive valuation of 44 percent. Could it therefore be time to sell?
Analyst breakdown
- The firm has “Buy” rating by Argus Research given on Wednesday, March 30
- Societe Generale upgraded RIO in a report on Friday, October 2 to “Buy” rating
- The stock has “Neutral” rating given by Citigroup on Tuesday, June 7
- The firm has “Market Perform” rating by Cowen & Co given on Tuesday, May 3
- The firm has “Hold” rating given on Wednesday, August 5 by Liberum Capital
- The stock earned “Hold” rating by Jefferies on Tuesday, August 23
- The stock has “Neutral” rating given by Axiom Capital on Friday, August 21
- The rating was upgraded by JP Morgan on Monday, September 12 to “Overweight”
- The stock of Rio Tinto plc (ADR) (NYSE:RIO) has “Outperform” rating given on Friday, August 7 by Macquarie Research
- Cowen & Co on Thursday, on October 29, rated Rio Tinto “Market Perform”
About 5.16 million shares were traded, which represents an increase of 41.76 percent from the average. The company has a market cap of $77.57 billion.
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SOURCE: [WhatsOnThorald]
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