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

Shares of Rio Tinto Group (NYSE:RIO) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company.

RIO has been the subject of several research analyst reports. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th.

Institutional Investors Weigh In On Rio Tinto Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC grew its position in shares of Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after buying an additional 485,731 shares during the period. Bank of Montreal Can increased its stake in Rio Tinto Group by 237.0% in the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after purchasing an additional 1,738,752 shares in the last quarter. FMR LLC increased its stake in Rio Tinto Group by 35.1% in the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after purchasing an additional 358,630 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in Rio Tinto Group by 9.8% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company’s stock worth $66,341,000 after purchasing an additional 83,569 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Rio Tinto Group by 78.3% during the second quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock worth $56,565,000 after purchasing an additional 376,778 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $59.20 on Thursday. Rio Tinto Group has a 52 week low of $58.34 and a 52 week high of $75.09. The business’s fifty day moving average is $63.24 and its two-hundred day moving average is $64.48. The firm has a market cap of $74.17 billion, a P/E ratio of 8.59, a P/E/G ratio of 0.38 and a beta of 0.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

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.