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

Rio Tinto Group (NYSE:RIO) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company.

RIO has been the subject of a number of recent research reports. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report 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, Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st.

Hedge Funds Weigh In On Rio Tinto Group

A number of large investors have recently made changes to their positions in RIO. GHP Investment Advisors Inc. bought a new position in shares of Rio Tinto Group in the second quarter worth $26,000. Winch Advisory Services LLC purchased a new position in shares of Rio Tinto Group in the third quarter worth about $26,000. FSC Wealth Advisors LLC purchased a new position in shares of Rio Tinto Group in the third quarter worth about $28,000. Sound Income Strategies LLC increased its holdings in Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares during the period. Finally, Centerpoint Advisors LLC increased its holdings in Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after purchasing an additional 275 shares during the period. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Price Performance

Shares of RIO opened at $62.02 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $65.55 and a 200 day moving average of $65.68. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09.

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.