Rio Tinto Group (NYSE:RIO) Given Average Rating of “Moderate Buy” by Analysts

Shares of Rio Tinto Group (NYSE:RIO) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company.

Several equities analysts have issued reports on the stock. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th.

Rio Tinto Group Trading Down 0.2 %

Shares of NYSE:RIO opened at $58.64 on Thursday. The business’s 50 day moving average price is $63.55 and its 200-day moving average price is $64.63. Rio Tinto Group has a 1 year low of $58.34 and a 1 year high of $75.09. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Institutional Investors Weigh In On Rio Tinto Group

A number of hedge funds have recently modified their holdings of RIO. Bank of Montreal Can grew its stake in Rio Tinto Group by 237.0% during the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after acquiring an additional 1,738,752 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of Rio Tinto Group by 8.7% during the 2nd quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company’s stock worth $45,870,000 after purchasing an additional 55,967 shares during the last quarter. Philip James Wealth Mangement LLC purchased a new stake in shares of Rio Tinto Group in the third quarter valued at approximately $1,345,000. Fisher Asset Management LLC increased its holdings in shares of Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after purchasing an additional 485,731 shares during the last quarter. Finally, Barclays PLC lifted its position in Rio Tinto Group by 225.6% during the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock worth $23,888,000 after buying an additional 232,539 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

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.