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

Rio Tinto Group (NYSE:RIO) has been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company.

Several analysts have weighed in on the stock. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Berenberg Bank lowered shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Citigroup cut Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Finally, Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd.

Institutional Investors Weigh In On Rio Tinto Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new stake in shares of Rio Tinto Group during the 1st quarter worth $26,000. Geneos Wealth Management Inc. raised its position in shares of 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 in the last quarter. GHP Investment Advisors Inc. acquired a new position in Rio Tinto Group in the second quarter valued at approximately $26,000. YHB Investment Advisors Inc. acquired a new stake in Rio Tinto Group during the first quarter worth approximately $29,000. Finally, Accordant Advisory Group Inc purchased a new stake in shares of Rio Tinto Group during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of NYSE:RIO opened at $61.28 on Friday. The business’s fifty day simple moving average is $65.41 and its 200-day simple moving average is $66.44. Rio Tinto Group has a 12-month low of $58.89 and a 12-month high of $75.09. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, August 16th will be issued a $1.77 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a dividend yield of 6.8%.

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.