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

Shares of Rio Tinto Group (NYSE:RIO) have been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $73.00.

A number of research analysts recently commented on RIO shares. Jefferies Financial Group lowered their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 25th.

Rio Tinto Group Stock Up 1.4 %

NYSE:RIO opened at $62.23 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The business’s 50-day simple moving average is $60.74 and its two-hundred day simple moving average is $63.02. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24.

Institutional Investors Weigh In On Rio Tinto Group

A number of hedge funds have recently bought and sold shares of the business. Jeppson Wealth Management LLC increased its holdings in shares of Rio Tinto Group by 47.5% in the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock worth $1,182,000 after buying an additional 6,473 shares during the last quarter. Philip James Wealth Mangement LLC purchased a new position in Rio Tinto Group in the third quarter worth about $1,345,000. Fisher Asset Management LLC increased its stake in Rio Tinto Group by 2.9% during the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after acquiring an additional 485,731 shares during the last quarter. Northwest Bancshares Inc. purchased a new stake in Rio Tinto Group during the third quarter valued at approximately $1,440,000. Finally, Barclays PLC lifted its stake in shares of Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after purchasing an additional 232,539 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Company Profile

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.