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

Shares of Rio Tinto Group (NYSE:RIO) have earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $72.00.

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Rio Tinto Group in a report on Friday, January 12th. They issued a “buy” rating on the stock. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Finally, StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Monday, April 29th.

Institutional Trading of Rio Tinto Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Brown Advisory Inc. grew its position in Rio Tinto Group by 59.5% during the third quarter. Brown Advisory Inc. now owns 10,539 shares of the mining company’s stock worth $671,000 after buying an additional 3,930 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Rio Tinto Group by 4.2% during the third quarter. Verdence Capital Advisors LLC now owns 9,406 shares of the mining company’s stock worth $599,000 after purchasing an additional 382 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Rio Tinto Group by 11.5% in the third quarter. Park Avenue Securities LLC now owns 13,670 shares of the mining company’s stock worth $870,000 after purchasing an additional 1,405 shares during the last quarter. Inspire Advisors LLC raised its stake in Rio Tinto Group by 9.8% in the third quarter. Inspire Advisors LLC now owns 6,810 shares of the mining company’s stock valued at $433,000 after purchasing an additional 608 shares in the last quarter. Finally, Sage Rhino Capital LLC lifted its position in Rio Tinto Group by 5.7% during the third quarter. Sage Rhino Capital LLC now owns 4,263 shares of the mining company’s stock valued at $271,000 after purchasing an additional 228 shares during the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Up 0.3 %

RIO stock opened at $70.02 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. The stock’s fifty day simple moving average is $65.26 and its two-hundred day simple moving average is $67.64. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09.

Rio Tinto Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, April 18th. Investors of record on Friday, March 8th were paid a dividend of $2.58 per share. The ex-dividend date was Thursday, March 7th. This represents a yield of 6.6%. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77.

About Rio Tinto Group

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.