Rio Tinto Group (NYSE:RIO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Rio Tinto Group (NYSE:RIO) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company.

RIO has been the subject of a number of research reports. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd.

Institutional Investors Weigh In On Rio Tinto Group

Large investors have recently made changes to their positions in the stock. Tidal Investments LLC boosted its holdings in Rio Tinto Group by 16.2% in the third quarter. Tidal Investments LLC now owns 122,623 shares of the mining company’s stock valued at $8,727,000 after purchasing an additional 17,052 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Rio Tinto Group in the third quarter valued at $218,000. World Investment Advisors LLC boosted its holdings in Rio Tinto Group by 5.9% in the third quarter. World Investment Advisors LLC now owns 4,802 shares of the mining company’s stock valued at $342,000 after purchasing an additional 266 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in Rio Tinto Group by 1.8% in the third quarter. Sanctuary Advisors LLC now owns 28,506 shares of the mining company’s stock valued at $2,029,000 after purchasing an additional 516 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. boosted its holdings in Rio Tinto Group by 11.3% in the third quarter. Stock Yards Bank & Trust Co. now owns 5,212 shares of the mining company’s stock valued at $371,000 after purchasing an additional 529 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Price Performance

RIO stock opened at $62.02 on Friday. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The stock’s 50 day simple moving average is $65.55 and its 200 day simple moving average is $65.68.

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.