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

Rio Tinto Group (NYSE:RIO) has earned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $73.00.

Several equities research analysts have issued reports on RIO shares. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Sunday. Jefferies Financial Group dropped their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley cut shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, April 9th. Barclays reissued an “overweight” rating on shares of Rio Tinto Group in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock.

Rio Tinto Group Price Performance

Shares of RIO stock opened at $59.60 on Wednesday. The firm has a market capitalization of $74.74 billion, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a 12-month low of $51.67 and a 12-month high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The firm has a fifty day moving average of $60.40 and a 200-day moving average of $61.70.

Rio Tinto Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, March 7th were given a $2.23 dividend. This represents a dividend yield of 7%. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio (DPR) is 69.15%.

Institutional Trading of Rio Tinto Group

A number of hedge funds have recently made changes to their positions in the business. XTX Topco Ltd acquired a new position in shares of Rio Tinto Group in the fourth quarter valued at about $1,241,000. Rossby Financial LCC acquired a new position in Rio Tinto Group during the 4th quarter worth approximately $360,000. Jeppson Wealth Management LLC grew its stake in shares of Rio Tinto Group by 47.5% during the fourth quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock worth $1,182,000 after buying an additional 6,473 shares during the last quarter. Barclays PLC lifted its holdings in shares of Rio Tinto Group by 225.6% during the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock worth $23,888,000 after purchasing an additional 232,539 shares during the period. Finally, Marshall Financial Group LLC bought a new stake in shares of Rio Tinto Group in the 4th quarter valued at about $810,000. 19.33% of the stock is owned by institutional investors and hedge funds.

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.