Rio Tinto Group (NYSE:RIO) Earns “Neutral” Rating from Macquarie

Macquarie reiterated their neutral rating on shares of Rio Tinto Group (NYSE:RIO) in a research report report published on Wednesday morning, Benzinga reports.

A number of other analysts have also weighed in on RIO. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Berenberg Bank upgraded 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 upgraded Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Finally, Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Down 0.8 %

Rio Tinto Group stock opened at $65.95 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09. The company’s 50-day moving average is $64.58 and its 200 day moving average is $66.33.

Rio Tinto Group Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, August 16th were issued a $1.77 dividend. This represents a yield of 6.8%. The ex-dividend date of this dividend was Friday, August 16th.

Institutional Trading of Rio Tinto Group

Institutional investors have recently made changes to their positions in the business. SageView Advisory Group LLC boosted its stake in Rio Tinto Group by 58.8% in the 4th quarter. SageView Advisory Group LLC now owns 5,466 shares of the mining company’s stock worth $384,000 after purchasing an additional 2,024 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Rio Tinto Group during the fourth quarter worth about $238,000. Mather Group LLC. purchased a new stake in Rio Tinto Group in the first quarter valued at approximately $76,000. Walker Asset Management LLC acquired a new position in Rio Tinto Group in the 1st quarter worth approximately $217,000. Finally, Wedmont Private Capital purchased a new stake in shares of Rio Tinto Group in the 1st quarter valued at $218,000. Institutional investors and hedge funds 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.