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

Rio Tinto Group (NYSE:RIOGet Free Report) has earned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $73.00.

RIO has been the topic of a number of research reports. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group dropped their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th.

View Our Latest Report on RIO

Rio Tinto Group Trading Up 0.5 %

Shares of Rio Tinto Group stock opened at $58.91 on Monday. The firm has a market capitalization of $73.81 billion, a PE ratio of 8.55, a price-to-earnings-growth ratio of 0.38 and a beta of 0.66. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average is $61.51 and its 200 day moving average is $63.74. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24.

Institutional Trading of Rio Tinto Group

Several institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its position in shares of Rio Tinto Group by 4.2% during the second quarter. Rhumbline Advisers now owns 23,872 shares of the mining company’s stock worth $1,574,000 after buying an additional 962 shares during the period. American Century Companies Inc. lifted its stake in shares of Rio Tinto Group by 6.5% in the 2nd quarter. American Century Companies Inc. now owns 238,110 shares of the mining company’s stock valued at $15,699,000 after purchasing an additional 14,506 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of Rio Tinto Group by 24.2% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 36,127 shares of the mining company’s stock valued at $2,382,000 after purchasing an additional 7,037 shares in the last quarter. GHP Investment Advisors Inc. acquired a new stake in Rio Tinto Group during the second quarter worth approximately $26,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in Rio Tinto Group by 14.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 139,444 shares of the mining company’s stock worth $9,194,000 after purchasing an additional 17,407 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

About Rio Tinto Group

(Get Free Report

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.

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Analyst Recommendations for Rio Tinto Group (NYSE:RIO)

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