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

Shares of Rio Tinto Group (NYSE:RIO) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company.

Several equities research analysts recently weighed in on the stock. Citigroup downgraded shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Finally, Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th.

Hedge Funds Weigh In On Rio Tinto Group

Several hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP grew its position in Rio Tinto Group by 7.1% in the fourth quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company’s stock worth $1,849,476,000 after buying an additional 1,644,751 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Rio Tinto Group by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock worth $1,194,751,000 after purchasing an additional 475,329 shares in the last quarter. Morgan Stanley boosted its stake in shares of Rio Tinto Group by 2.7% during the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock valued at $284,111,000 after buying an additional 118,706 shares during the period. Earnest Partners LLC raised its holdings in shares of Rio Tinto Group by 1.4% during the first quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company’s stock worth $88,979,000 after acquiring an additional 19,334 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Rio Tinto Group by 296.2% during the first quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock worth $71,382,000 after acquiring an additional 764,635 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 2.9 %

Shares of Rio Tinto Group stock opened at $67.90 on Thursday. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09. The business’s fifty day moving average price is $68.78 and its two-hundred day moving average price is $68.02. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23.

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.