Rio Tinto Group (NYSE:RIO) Upgraded at StockNews.com

StockNews.com upgraded shares of Rio Tinto Group (NYSE:RIO) from a buy rating to a strong-buy rating in a research note issued to investors on Sunday morning.

A number of other equities analysts have also recently weighed in on RIO. DZ Bank raised shares of Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. Barclays restated an “overweight” rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. Jefferies Financial Group reduced their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley lowered shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They issued an “overweight” rating for the company. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $73.00.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $59.60 on Friday. The firm’s fifty day simple moving average is $60.40 and its 200 day simple moving average is $61.70. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a twelve month low of $51.67 and a twelve month high of $74.24. The firm has a market capitalization of $74.74 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 0.42 and a beta of 0.66.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, March 7th were paid a $2.23 dividend. The ex-dividend date was Friday, March 7th. This represents a dividend yield of 7%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio (DPR) is presently 69.15%.

Institutional Trading of Rio Tinto Group

Several large investors have recently added to or reduced their stakes in RIO. Thurston Springer Miller Herd & Titak Inc. lifted 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 period. Rakuten Securities Inc. lifted its position in Rio Tinto Group by 74.8% in the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after purchasing an additional 211 shares during the period. Mechanics Financial Corp bought a new position in Rio Tinto Group during the 4th quarter valued at $29,000. Bfsg LLC raised its stake in shares of Rio Tinto Group by 5,754.5% in the 1st quarter. Bfsg LLC now owns 644 shares of the mining company’s stock worth $39,000 after buying an additional 633 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in Rio Tinto Group during the fourth quarter worth about $47,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

About Rio Tinto Group

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.