Rio Tinto Group (NYSE:RIO) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Rio Tinto Group (NYSE:RIO) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $72.00.

Several brokerages recently weighed in on RIO. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. Finally, Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th.

Rio Tinto Group Stock Up 0.4 %

Shares of NYSE RIO opened at $66.80 on Thursday. The company’s 50 day simple moving average is $68.85 and its 200 day simple moving average is $68.18. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69.

Institutional Investors Weigh In On Rio Tinto Group

Several hedge funds have recently bought and sold shares of the company. Meritage Portfolio Management grew its holdings in Rio Tinto Group by 0.3% during the 4th quarter. Meritage Portfolio Management now owns 42,192 shares of the mining company’s stock worth $3,142,000 after acquiring an additional 147 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Rio Tinto Group by 0.4% in the 1st quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock worth $2,547,000 after purchasing an additional 147 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Rio Tinto Group by 55.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after purchasing an additional 148 shares during the period. Dana Investment Advisors Inc. lifted its position in shares of Rio Tinto Group by 0.5% in the 3rd quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock worth $1,876,000 after purchasing an additional 150 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Rio Tinto Group by 8.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock worth $143,000 after purchasing an additional 150 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Company Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.