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

Shares of Rio Tinto Group (NYSE:RIO) have received a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $73.00.

Several brokerages have recently weighed in on RIO. Jefferies Financial Group reduced their price target 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. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 25th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RIO. Winch Advisory Services LLC purchased a new position in Rio Tinto Group in the 3rd quarter worth about $26,000. FSC Wealth Advisors LLC bought a new stake in shares of Rio Tinto Group in the third quarter worth approximately $28,000. Sound Income Strategies LLC raised its holdings in shares of Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares during the last quarter. Rakuten Securities Inc. lifted its position in Rio Tinto Group by 74.8% during the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after purchasing an additional 211 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after purchasing an additional 195 shares during the last quarter. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Stock Up 2.1 %

Shares of RIO opened at $63.35 on Friday. The business’s 50 day moving average price is $60.63 and its 200-day moving average price is $62.95. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. 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 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.