Rio Tinto Group (NYSE:RIO) Receives $72.00 Consensus PT from Analysts

Shares of Rio Tinto Group (NYSE:RIO) have been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $72.00.

A number of analysts have recently issued reports on RIO shares. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday. The Goldman Sachs Group began coverage on shares of Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating for the company. Finally, Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th.

Institutional Investors Weigh In On Rio Tinto Group

Large investors have recently added to or reduced their stakes in the stock. Garner Asset Management Corp bought a new stake in shares of Rio Tinto Group during the 4th quarter valued at $25,000. Northwest Investment Counselors LLC bought a new stake in Rio Tinto Group during the first quarter worth about $26,000. Cowa LLC acquired a new stake in Rio Tinto Group during the first quarter worth about $26,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Rio Tinto Group in the 3rd quarter valued at about $27,000. Finally, AdvisorNet Financial Inc raised its position in shares of Rio Tinto Group by 785.7% in the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after buying an additional 330 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.4 %

RIO opened at $66.98 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The stock’s fifty day simple moving average is $64.87 and its 200 day simple moving average is $67.05. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, April 18th. Stockholders of record on Friday, March 8th were given a $2.58 dividend. This represents a dividend yield of 6.6%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date was Thursday, March 7th.

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.