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

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

A number of brokerages have commented on RIO. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th.

Hedge Funds Weigh In On Rio Tinto Group

Several hedge funds have recently bought and sold shares of the company. Assetmark Inc. boosted its position in shares of Rio Tinto Group by 2.3% during the 3rd quarter. Assetmark Inc. now owns 63,410 shares of the mining company’s stock worth $4,513,000 after acquiring an additional 1,401 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in Rio Tinto Group by 16.8% during the third quarter. Verdence Capital Advisors LLC now owns 37,984 shares of the mining company’s stock worth $2,703,000 after purchasing an additional 5,469 shares during the last quarter. Philip James Wealth Mangement LLC acquired a new stake in shares of Rio Tinto Group in the 3rd quarter valued at $1,345,000. Summit Global Investments increased its stake in shares of Rio Tinto Group by 10.1% in the 3rd quarter. Summit Global Investments now owns 77,590 shares of the mining company’s stock valued at $5,522,000 after purchasing an additional 7,112 shares during the last quarter. Finally, Hara Capital LLC acquired a new position in shares of Rio Tinto Group during the 3rd quarter worth $53,000. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Trading Up 0.7 %

Rio Tinto Group stock opened at $65.33 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09. The stock’s 50 day moving average is $65.19 and its 200-day moving average is $66.33.

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.