Rio Tinto Group (NYSE:RIO) Receives $73.00 Average Target Price from Analysts

Rio Tinto Group (NYSE:RIO) has received a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $73.00.

RIO has been the topic of several research reports. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 25th. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, Jefferies Financial Group dropped their target price 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.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new position in Rio Tinto Group during the second quarter worth about $518,000. Mather Group LLC. lifted its holdings in shares of Rio Tinto Group by 87.5% in the 3rd quarter. Mather Group LLC. now owns 2,967 shares of the mining company’s stock worth $211,000 after acquiring an additional 1,385 shares during the last quarter. Advocate Group LLC boosted its position in shares of Rio Tinto Group by 17.1% during the 3rd quarter. Advocate Group LLC now owns 45,623 shares of the mining company’s stock worth $3,247,000 after purchasing an additional 6,667 shares during the period. San Luis Wealth Advisors LLC increased its holdings in Rio Tinto Group by 132.3% in the 3rd quarter. San Luis Wealth Advisors LLC now owns 10,579 shares of the mining company’s stock valued at $753,000 after purchasing an additional 6,025 shares during the last quarter. Finally, Fiduciary Financial Group LLC raised its position in Rio Tinto Group by 3.7% in the third quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock valued at $330,000 after purchasing an additional 178 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

RIO stock opened at $61.96 on Friday. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The business’s 50-day moving average is $60.72 and its 200 day moving average is $63.00. 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 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.