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

Rio Tinto Group (NYSE:RIO) has earned an average rating of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $73.00.

A number of analysts have recently weighed in on RIO shares. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a research note on Tuesday, March 18th. They set an “overweight” rating on the stock. Jefferies Financial Group dropped their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Dorsey & Whitney Trust CO LLC grew its position in Rio Tinto Group by 2.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock worth $477,000 after acquiring an additional 160 shares during the last quarter. Capital Analysts LLC grew its holdings in shares of Rio Tinto Group by 6.0% during the fourth quarter. Capital Analysts LLC now owns 2,886 shares of the mining company’s stock worth $170,000 after purchasing an additional 163 shares during the last quarter. Nemes Rush Group LLC increased its stake in shares of Rio Tinto Group by 10.0% in the fourth quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company’s stock valued at $109,000 after buying an additional 169 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in 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 buying an additional 195 shares during the last quarter. Finally, Cohen Investment Advisors LLC boosted its position in Rio Tinto Group by 3.8% during the 4th quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock worth $315,000 after buying an additional 198 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Stock Down 2.2 %

NYSE RIO opened at $60.99 on Friday. The company has a market cap of $76.48 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $62.11 and a 200-day moving average of $62.92.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be paid a $2.23 dividend. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. This represents a yield of 7%. Rio Tinto Group’s dividend payout ratio is presently 69.15%.

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.