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 rating of “Moderate Buy” by the eight research firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company.

A number of brokerages recently weighed in on RIO. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th.

Rio Tinto Group Price Performance

NYSE RIO opened at $59.20 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The stock has a market cap of $74.17 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 0.38 and a beta of 0.65. The business has a 50 day simple moving average of $63.24 and a 200 day simple moving average of $64.48. Rio Tinto Group has a 52-week low of $58.34 and a 52-week high of $75.09.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Fisher Asset Management LLC lifted its stake in Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after acquiring an additional 485,731 shares during the last quarter. Bank of Montreal Can increased its position in Rio Tinto Group by 237.0% during the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after buying an additional 1,738,752 shares during the last quarter. FMR LLC raised its stake in Rio Tinto Group by 35.1% in the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after buying an additional 358,630 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of Rio Tinto Group by 9.8% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company’s stock valued at $66,341,000 after buying an additional 83,569 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Rio Tinto Group by 78.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock worth $56,565,000 after acquiring an additional 376,778 shares during the period. 19.33% of the stock is currently owned by institutional investors.

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.