Brokerages Set Rio Tinto Group (NYSE:RIO) PT at $73.00

Shares of Rio Tinto Group (NYSE:RIO) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $73.00.

RIO has been the topic of several research analyst reports. Jefferies Financial Group dropped their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note 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 report on Wednesday, October 16th.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $60.48 on Monday. The stock has a market cap of $75.78 billion, a price-to-earnings ratio of 8.78, a price-to-earnings-growth ratio of 0.38 and a beta of 0.66. The firm has a 50-day moving average of $61.30 and a two-hundred day moving average of $63.66. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. GHP Investment Advisors Inc. purchased a new position in Rio Tinto Group in the second quarter valued at about $26,000. Winch Advisory Services LLC purchased a new position in shares of Rio Tinto Group in the 3rd quarter worth approximately $26,000. FSC Wealth Advisors LLC bought a new position in shares of Rio Tinto Group during the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after acquiring an additional 195 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its position in Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after acquiring an additional 173 shares during the last quarter. 19.33% of the stock is owned by institutional investors.

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.