Rio Tinto Group (NYSE:RIO) Upgraded at CLSA

CLSA upgraded shares of Rio Tinto Group (NYSE:RIO – Get Rating) from an underperform rating to an outperform rating in a report issued on Monday, The Fly reports.

Several other research analysts also recently commented on RIO. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Rio Tinto Group from GBX 5,800 ($70.69) to GBX 6,200 ($75.56) in a research report on Tuesday, January 10th. BNP Paribas downgraded shares of Rio Tinto Group from an outperform rating to a neutral rating in a research report on Monday, February 13th. Barclays upgraded shares of Rio Tinto Group from an underweight rating to an equal weight rating in a research report on Thursday, January 12th. Citigroup downgraded shares of Rio Tinto Group from a buy rating to a neutral rating in a research report on Thursday, December 1st. Finally, StockNews.com downgraded shares of Rio Tinto Group from a strong-buy rating to a buy rating in a report on Friday, March 3rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $5,790.00.

Rio Tinto Group Price Performance

Shares of RIO opened at $68.41 on Monday. Rio Tinto Group has a one year low of $50.92 and a one year high of $83.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.10 and a current ratio of 1.64. The firm has a 50 day simple moving average of $74.50 and a two-hundred day simple moving average of $65.71.

Rio Tinto Group Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 20th. Investors of record on Friday, March 10th will be paid a $2.25 dividend. The ex-dividend date is Thursday, March 9th. This represents a dividend yield of 9.8%.

Institutional Trading of Rio Tinto Group

Several institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. grew its stake in shares of Rio Tinto Group by 0.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 267,634 shares of the mining company’s stock worth $19,054,000 after purchasing an additional 1,640 shares during the last quarter. Cravens & Co Advisors LLC bought a new stake in shares of Rio Tinto Group in the fourth quarter worth $967,000. Kovack Advisors Inc. boosted its position in Rio Tinto Group by 3.7% during the fourth quarter. Kovack Advisors Inc. now owns 9,763 shares of the mining company’s stock valued at $695,000 after acquiring an additional 347 shares during the last quarter. CVA Family Office LLC boosted its position in Rio Tinto Group by 356.3% during the fourth quarter. CVA Family Office LLC now owns 4,312 shares of the mining company’s stock valued at $307,000 after acquiring an additional 3,367 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Rio Tinto Group by 11.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 33,623 shares of the mining company’s stock valued at $2,394,000 after acquiring an additional 3,503 shares during the last quarter. Institutional investors own 10.43% of the company’s stock.

Rio Tinto Group Company Profile

(Get Rating)

Rio Tinto Plc engages in the exploration, mining, and processing of mineral resources. It operates through the following business segments: Iron Ore, Aluminium, Copper and Diamonds, Energy and Minerals, and Other Operations. The Iron Ore segment supplies global seaborne iron ore trade. The Aluminium segment produces bauxite, alumina and primary aluminum.