Erste Group Bank Increases Earnings Estimates for Rio Tinto

Rio Tinto PLC (NYSE:RIO) – Investment analysts at Erste Group Bank upped their FY2027 earnings per share estimates for shares of Rio Tinto in a research report issued to clients and investors on Friday, September 18th. Erste Group Bank analyst S. Lingnau now forecasts that the mining company will post earnings of $8.44 per share for the year, up from their prior forecast of $8.31. Erste Group Bank currently has a “Hold” rating on the stock. The consensus estimate for Rio Tinto’s current full-year earnings is $8.43 per share.

Several other research analysts have also recently weighed in on RIO. Argus raised shares of Rio Tinto to a “strong-buy” rating in a report on Thursday, August 20th. Zacks Research raised shares of Rio Tinto from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 2nd. Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto in a research note on Thursday, July 9th. Royal Bank Of Canada cut Rio Tinto from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, June 3rd. Finally, DZ Bank raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $103.12.

Rio Tinto Stock Up 0.5%

Rio Tinto stock opened at $97.56 on Wednesday. The firm has a 50 day simple moving average of $98.52 and a 200 day simple moving average of $98.00. The company has a current ratio of 1.42, a quick ratio of 0.93 and a debt-to-equity ratio of 0.29. Rio Tinto has a 1-year low of $63.29 and a 1-year high of $112.58.

Rio Tinto Announces Dividend

The business also recently announced a dividend, which will be paid on Thursday, September 24th. Stockholders of record on Friday, August 14th will be issued a $2.11 dividend. This represents a dividend yield of 441.0%. The ex-dividend date of this dividend is Friday, August 14th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. AdvisorNet Financial Inc grew its holdings in Rio Tinto by 160.2% in the first quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. Timbuktu Capital Management LLC acquired a new stake in shares of Rio Tinto in the 2nd quarter worth $28,000. V Square Quantitative Management LLC acquired a new position in Rio Tinto during the 1st quarter valued at about $35,000. Costello Asset Management INC purchased a new stake in Rio Tinto in the first quarter valued at about $37,000. Finally, Evelyn Partners Investment Management LLP purchased a new position in shares of Rio Tinto in the 4th quarter valued at approximately $34,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

About Rio Tinto

Rio Tinto plc is a global mining and metals company with operations and projects spanning approximately 35 countries. Founded in 1873, the company operates through a dual-listed structure in the United Kingdom and Australia, with its American depositary receipts traded on the New York Stock Exchange under the symbol RIO.

The company explores, develops and produces a range of mineral resources. Its principal products include iron ore, aluminum, copper, lithium, borates, titanium dioxide feedstocks and diamonds.