Rio Tinto Group (NYSE:RIO) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of Rio Tinto Group (NYSE:RIO) from a buy rating to a strong-buy rating in a research note published on Thursday.

A number of other equities analysts also recently issued reports on RIO. The Goldman Sachs Group assumed coverage on shares of Rio Tinto Group in a report on Friday, January 12th. They issued a buy rating for the company. Liberum Capital reiterated a hold rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $72.00.

Rio Tinto Group Trading Down 0.1 %

Shares of Rio Tinto Group stock opened at $66.69 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09. The firm has a fifty day moving average of $64.89 and a two-hundred day moving average of $67.02.

Rio Tinto Group Increases Dividend

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

Hedge Funds Weigh In On Rio Tinto Group

Several hedge funds have recently added to or reduced their stakes in RIO. Wellington Management Group LLP increased its holdings in Rio Tinto Group by 41.0% during the 3rd quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock valued at $1,476,052,000 after acquiring an additional 6,748,799 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Rio Tinto Group by 58.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,899,694 shares of the mining company’s stock valued at $1,037,135,000 after acquiring an additional 4,783,488 shares in the last quarter. Cowa LLC purchased a new position in Rio Tinto Group during the 1st quarter valued at about $26,000. Goldman Sachs Group Inc. increased its holdings in Rio Tinto Group by 56.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,707,717 shares of the mining company’s stock valued at $424,997,000 after acquiring an additional 2,053,147 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda increased its holdings in Rio Tinto Group by 560.8% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 791,933 shares of the mining company’s stock valued at $58,967,000 after acquiring an additional 672,095 shares in the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

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.