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

Shares of Rio Tinto Group (NYSE:RIO) have received an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company.

RIO has been the subject of a number of recent analyst reports. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd.

Rio Tinto Group Stock Performance

Shares of NYSE RIO opened at $65.50 on Wednesday. The firm has a 50-day simple moving average of $65.25 and a two-hundred day simple moving average of $66.30. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Institutional Trading of Rio Tinto Group

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its position in shares of Rio Tinto Group by 237.0% in the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after purchasing an additional 1,738,752 shares during the period. National Bank of Canada FI lifted its holdings in 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 buying an additional 764,635 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 2nd quarter valued at $48,129,000. Mediolanum International Funds Ltd bought a new stake in Rio Tinto Group during the 3rd quarter valued at $33,590,000. Finally, Palliser Capital UK Ltd increased its holdings in shares of Rio Tinto Group by 690.6% in the 2nd quarter. Palliser Capital UK Ltd now owns 499,675 shares of the mining company’s stock valued at $32,944,000 after acquiring an additional 436,475 shares during the period. 19.33% of the stock is 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.