FY2019 Earnings Forecast for Rio Tinto plc ADR (NYSE:RIO) Issued By Jefferies Financial Group

Rio Tinto plc ADR (NYSE:RIO) – Equities research analysts at Jefferies Financial Group raised their FY2019 earnings per share (EPS) estimates for Rio Tinto in a report issued on Friday, November 15th. Jefferies Financial Group analyst C. Lafemina now forecasts that the mining company will earn $6.10 per share for the year, up from their previous forecast of $5.95. Jefferies Financial Group has a “Buy” rating and a $57.00 price objective on the stock. Jefferies Financial Group also issued estimates for Rio Tinto’s FY2020 earnings at $5.36 EPS and FY2021 earnings at $5.34 EPS.

Several other research analysts have also issued reports on the stock. ValuEngine upgraded shares of Rio Tinto from a “strong sell” rating to a “sell” rating in a research report on Friday, November 8th. Investec upgraded shares of Rio Tinto from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Deutsche Bank reiterated a “hold” rating and issued a $4,400.00 target price on shares of Rio Tinto in a research report on Saturday, November 2nd. Credit Suisse Group lowered shares of Rio Tinto from a “neutral” rating to an “underperform” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada reiterated a “sell” rating on shares of Rio Tinto in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $1,923.04.

Shares of NYSE:RIO opened at $53.99 on Monday. Rio Tinto has a 52-week low of $44.62 and a 52-week high of $64.02. The firm has a fifty day moving average of $52.37 and a 200 day moving average of $55.40. The firm has a market capitalization of $67.31 billion, a PE ratio of 10.65 and a beta of 0.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.22 and a current ratio of 1.55.

Institutional investors have recently bought and sold shares of the business. Personal Wealth Partners bought a new stake in Rio Tinto in the second quarter worth $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in Rio Tinto in the second quarter worth $25,000. First Interstate Bank bought a new stake in Rio Tinto in the third quarter worth $26,000. Quest Capital Management Inc. ADV bought a new stake in Rio Tinto in the third quarter worth $26,000. Finally, CWM LLC raised its stake in shares of Rio Tinto by 148.4% during the third quarter. CWM LLC now owns 554 shares of the mining company’s stock valued at $29,000 after acquiring an additional 331 shares during the last quarter. 7.85% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Company Profile

Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.

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Earnings History and Estimates for Rio Tinto (NYSE:RIO)

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