Rio Tinto Group (NYSE:RIO) Given Average Rating of “Buy” by Analysts

Rio Tinto Group (NYSE:RIO) has earned an average recommendation of “Buy” from the ten brokerages that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $73.00.

RIO has been the topic of a number of analyst reports. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. DZ Bank upgraded Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Jefferies Financial Group dropped their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They set an “overweight” rating on the stock. Finally, Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th.

Rio Tinto Group Stock Down 6.5 %

Shares of NYSE RIO opened at $54.66 on Friday. The company has a market cap of $68.54 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 0.42 and a beta of 0.60. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average is $61.82 and its 200 day moving average is $62.82. Rio Tinto Group has a 52 week low of $53.96 and a 52 week high of $74.24.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be given a dividend of $2.23 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. Rio Tinto Group’s payout ratio is currently 69.15%.

Hedge Funds Weigh In On Rio Tinto Group

A number of institutional investors have recently added to or reduced their stakes in the company. Jeppson Wealth Management LLC grew its position in shares of Rio Tinto Group by 47.5% in the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock worth $1,182,000 after buying an additional 6,473 shares during the period. Barclays PLC grew its holdings in Rio Tinto Group by 225.6% in the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock worth $23,888,000 after purchasing an additional 232,539 shares during the period. Marshall Financial Group LLC bought a new position in shares of Rio Tinto Group during the fourth quarter valued at approximately $810,000. Palliser Capital UK Ltd lifted its holdings in shares of Rio Tinto Group by 213.8% during the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after purchasing an additional 674,117 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Rio Tinto Group by 16.2% in the 3rd quarter. Tidal Investments LLC now owns 122,623 shares of the mining company’s stock worth $8,727,000 after purchasing an additional 17,052 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

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.