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

Shares of Rio Tinto Group (NYSE:RIO) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $72.00.

Several research firms have issued reports on RIO. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. The Goldman Sachs Group began coverage on Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating on the stock. BNP Paribas upgraded Rio Tinto Group from a “neutral” rating to an “outperform” rating in a report on Tuesday, December 5th. Finally, Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Schechter Investment Advisors LLC grew its stake in Rio Tinto Group by 10.9% during the 3rd quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock worth $556,000 after buying an additional 858 shares during the last quarter. Sei Investments Co. boosted its position in Rio Tinto Group by 18.3% during the 3rd quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock worth $45,926,000 after acquiring an additional 111,623 shares during the period. Morgan Stanley boosted its position in Rio Tinto Group by 2.7% during the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after acquiring an additional 118,706 shares during the period. LPL Financial LLC boosted its position in Rio Tinto Group by 4.0% during the 3rd quarter. LPL Financial LLC now owns 369,931 shares of the mining company’s stock worth $23,542,000 after acquiring an additional 14,083 shares during the period. Finally, Capital Investment Advisors LLC boosted its position in Rio Tinto Group by 16.7% during the 3rd quarter. Capital Investment Advisors LLC now owns 404,189 shares of the mining company’s stock worth $25,723,000 after acquiring an additional 57,818 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Up 0.6 %

Rio Tinto Group stock opened at $63.39 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09. The stock’s 50 day moving average price is $66.47 and its 200 day moving average price is $66.89.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 18th. Investors of record on Friday, March 8th will be paid 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 is Thursday, March 7th.

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.