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

Shares of Rio Tinto Group (NYSE:RIO) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company.

RIO has been the topic of a number of recent analyst reports. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th.

Institutional Investors Weigh In On Rio Tinto Group

Several large investors have recently added to or reduced their stakes in RIO. Bank of Montreal Can boosted its position in Rio Tinto Group by 237.0% during the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after purchasing an additional 1,738,752 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in Rio Tinto Group in the 2nd quarter valued at approximately $48,129,000. Fisher Asset Management LLC raised its holdings in Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after acquiring an additional 485,731 shares during the period. Mediolanum International Funds Ltd purchased a new stake in shares of Rio Tinto Group during the third quarter worth $33,590,000. Finally, Palliser Capital UK Ltd boosted its holdings in shares of Rio Tinto Group by 690.6% in the second quarter. Palliser Capital UK Ltd now owns 499,675 shares of the mining company’s stock worth $32,944,000 after acquiring an additional 436,475 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at $62.32 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The company’s 50 day moving average price is $65.48 and its two-hundred day moving average price is $65.64. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09.

About Rio Tinto Group

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.