Rio Tinto Group (NYSE:RIO) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Rio Tinto Group (NYSE:RIO) have earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $73.00.

RIO has been the subject of several research reports. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 25th. Jefferies Financial Group dropped their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th.

Rio Tinto Group Stock Up 1.4 %

Shares of NYSE:RIO opened at $62.23 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The firm’s 50-day moving average is $60.74 and its 200 day moving average is $63.02.

Institutional Trading of Rio Tinto Group

A number of institutional investors have recently made changes to their positions in RIO. Winch Advisory Services LLC acquired a new position in Rio Tinto Group during the 3rd quarter valued at about $26,000. FSC Wealth Advisors LLC acquired a new position in shares of Rio Tinto Group during the third quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after purchasing an additional 173 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Rio Tinto Group during the 3rd quarter worth approximately $38,000. 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.