Rio Tinto Group (NYSE:RIO) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Rio Tinto Group (NYSE:RIO) from a buy rating to a strong-buy rating in a report published on Friday morning.

Several other brokerages also recently issued reports on RIO. Citigroup downgraded Rio Tinto Group from a buy rating to a neutral rating in a research report on Monday, May 20th. Royal Bank of Canada raised Rio Tinto Group to a hold rating in a research report on Wednesday, July 31st. Berenberg Bank cut Rio Tinto Group from a buy rating to a hold rating in a research report on Thursday, June 27th. HSBC raised shares of Rio Tinto Group from a hold rating to a buy rating in a research report on Tuesday, July 23rd. Finally, Hsbc Global Res raised shares of Rio Tinto Group to a strong-buy rating in a report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy.

Rio Tinto Group Price Performance

NYSE RIO opened at $60.02 on Friday. The company has a market cap of $75.18 billion, a P/E ratio of 8.42, a P/E/G ratio of 0.34 and a beta of 0.66. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $63.99 and a 200 day simple moving average of $65.81.

Rio Tinto Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, August 16th will be issued a $1.77 dividend. This represents a yield of 6.8%. The ex-dividend date of this dividend is Friday, August 16th. Rio Tinto Group’s dividend payout ratio (DPR) is presently 49.51%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RIO. Northwest Investment Counselors LLC bought a new stake in shares of Rio Tinto Group in the 1st quarter valued at approximately $26,000. Geneos Wealth Management Inc. grew its position in Rio Tinto Group by 55.4% in the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after acquiring an additional 148 shares during the period. GHP Investment Advisors Inc. acquired a new position in Rio Tinto Group during the second quarter worth $26,000. YHB Investment Advisors Inc. bought a new position in shares of Rio Tinto Group during the first quarter valued at $29,000. Finally, LifeSteps Financial Inc. acquired a new stake in shares of Rio Tinto Group in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

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.