Rio Tinto Group (NYSE:RIO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Rio Tinto Group (NYSE:RIO) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company.

A number of research firms have recently weighed in on RIO. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th.

Hedge Funds Weigh In On Rio Tinto Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RIO. Bank of Montreal Can boosted its holdings in shares of Rio Tinto Group by 237.0% during the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after buying an additional 1,738,752 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in Rio Tinto Group during the second quarter valued at about $48,129,000. Fisher Asset Management LLC grew its position in shares of Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after purchasing an additional 485,731 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in shares of Rio Tinto Group in the third quarter worth about $33,590,000. Finally, SPX Gestao de Recursos Ltda lifted its position in shares of Rio Tinto Group by 1,773.2% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock worth $30,384,000 after purchasing an additional 404,131 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 1.0 %

NYSE RIO opened at $59.23 on Thursday. 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 has a 1-year low of $58.34 and a 1-year high of $75.09. The firm’s fifty day simple moving average is $63.55 and its 200-day simple moving average is $64.61. The company has a market capitalization of $74.21 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 0.38 and a beta of 0.65.

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.