Analysts Set Rio Tinto Group (NYSE:RIO) PT at $72.00

Rio Tinto Group (NYSE:RIO) has received a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company.

Several research firms have recently commented on RIO. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Berenberg Bank cut shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday. Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Finally, Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th.

Rio Tinto Group Stock Up 0.2 %

Rio Tinto Group stock opened at $65.93 on Thursday. The company’s fifty day simple moving average is $68.81 and its 200-day simple moving average is $68.12. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. Rio Tinto Group has a 12 month low of $58.27 and a 12 month high of $75.09.

Institutional Investors Weigh In On Rio Tinto Group

Several institutional investors and hedge funds have recently modified their holdings of RIO. Northwest Investment Counselors LLC acquired a new position in Rio Tinto Group during the 1st quarter worth $26,000. Geneos Wealth Management Inc. lifted its position in Rio Tinto Group by 55.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after acquiring an additional 148 shares during the last quarter. AdvisorNet Financial Inc lifted its position in Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after acquiring an additional 330 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in Rio Tinto Group during the 1st quarter worth $29,000. Finally, Accordant Advisory Group Inc acquired a new position in Rio Tinto Group during the 1st quarter worth $31,000. Institutional investors and hedge funds 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.