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

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

Several equities research analysts recently commented on RIO shares. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, 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.

Institutional Investors Weigh In On Rio Tinto Group

A number of hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its holdings in shares of Rio Tinto Group by 2.4% during the first quarter. Bessemer Group Inc. now owns 7,304 shares of the mining company’s stock valued at $465,000 after buying an additional 169 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in shares of Rio Tinto Group in the first quarter worth approximately $241,000. Mount Yale Investment Advisors LLC bought a new position in shares of Rio Tinto Group in the first quarter valued at approximately $479,000. Waverly Advisors LLC purchased a new position in shares of Rio Tinto Group during the first quarter valued at approximately $1,646,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Rio Tinto Group during the first quarter valued at approximately $613,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.5 %

Shares of RIO opened at $62.32 on Friday. The firm’s fifty day simple moving average is $65.48 and its two-hundred day simple moving average is $65.64. 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.

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.