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

Shares of Rio Tinto Group (NYSE:RIO – Get Rating) have been given an average rating of “Moderate Buy” by the fifteen analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $5,995.00.

RIO has been the subject of several research reports. The Goldman Sachs Group upgraded Rio Tinto Group from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, March 2nd. StockNews.com assumed coverage on Rio Tinto Group in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. BNP Paribas cut Rio Tinto Group from an “outperform” rating to a “neutral” rating in a research report on Monday, February 13th. Sanford C. Bernstein upgraded shares of Rio Tinto Group from a “market perform” rating to an “outperform” rating in a report on Friday, May 5th. Finally, JPMorgan Chase & Co. upgraded shares of Rio Tinto Group from an “underweight” rating to a “neutral” rating in a report on Monday, May 15th.

Rio Tinto Group Stock Down 1.8 %

Shares of RIO stock opened at $60.82 on Wednesday. The stock has a fifty day moving average price of $65.10 and a 200 day moving average price of $69.21. The company has a quick ratio of 1.10, a current ratio of 1.64 and a debt-to-equity ratio of 0.21. Rio Tinto Group has a 1 year low of $50.92 and a 1 year high of $80.51.

Rio Tinto Group Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, April 20th. Shareholders of record on Friday, March 10th were paid a dividend of $2.25 per share. This represents a yield of 9.8%. The ex-dividend date of this dividend was Thursday, March 9th.

Institutional Trading of Rio Tinto Group

Institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership raised its holdings in Rio Tinto Group by 58.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,899,694 shares of the mining company’s stock valued at $1,037,135,000 after buying an additional 4,783,488 shares during the period. Cowa LLC acquired a new stake in Rio Tinto Group in the 1st quarter valued at $26,000. Pendal Group Ltd acquired a new position in shares of Rio Tinto Group during the fourth quarter worth about $183,849,000. Acadian Asset Management LLC raised its holdings in shares of Rio Tinto Group by 537.9% during the 1st quarter. Acadian Asset Management LLC now owns 2,514,532 shares of the mining company’s stock valued at $172,457,000 after buying an additional 2,120,343 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Rio Tinto Group by 176.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,112,031 shares of the mining company’s stock worth $48,114,000 after acquiring an additional 1,347,060 shares during the period. 10.43% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Company Profile

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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.