Rio Tinto Group (NYSE:RIO) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Rio Tinto Group (NYSE:RIO) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday.

RIO has been the topic of several other reports. The Goldman Sachs Group began coverage on Rio Tinto Group in a research report on Friday, January 12th. They set a buy rating on the stock. Liberum Capital restated 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 and nine have issued a buy rating to the company. According to data from MarketBeat, Rio Tinto Group presently has a consensus rating of Moderate Buy and a consensus target price of $72.00.

Rio Tinto Group Price Performance

Shares of RIO stock opened at $65.99 on Wednesday. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. The business’s fifty day simple moving average is $65.02 and its 200-day simple moving average is $66.95. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RIO. Columbus Macro LLC purchased a new stake in Rio Tinto Group in the first quarter valued at approximately $1,276,000. Gilman Hill Asset Management LLC lifted its stake in Rio Tinto Group by 17.9% during the 1st quarter. Gilman Hill Asset Management LLC now owns 57,362 shares of the mining company’s stock valued at $3,656,000 after acquiring an additional 8,716 shares during the period. Riverview Trust Co purchased a new stake in shares of Rio Tinto Group in the 1st quarter valued at $110,000. Northwest Investment Counselors LLC acquired a new stake in shares of Rio Tinto Group in the first quarter worth $26,000. Finally, Murphy Pohlad Asset Management LLC raised its holdings in shares of Rio Tinto Group by 14.2% during the first quarter. Murphy Pohlad Asset Management LLC now owns 19,735 shares of the mining company’s stock worth $1,258,000 after purchasing an additional 2,455 shares during the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

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.