Rio Tinto Group (NYSE:RIO) Given Average Rating of "Moderate Buy" by Analysts

Rio Tinto Group (NYSE:RIO - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine research firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company.

Several brokerages recently commented on RIO. Macquarie reissued a "neutral" rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Hsbc Global Res upgraded shares of Rio Tinto Group to a "strong-buy" rating in a research note on Tuesday, July 23rd. StockNews.com raised Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 6th. Berenberg Bank raised Rio Tinto Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada raised shares of Rio Tinto Group to a "hold" rating in a research report on Wednesday, July 31st.

Rio Tinto Group Stock Down 1.0 %

RIO traded down $0.67 during trading hours on Wednesday, hitting $65.91. 1,855,541 shares of the company's stock were exchanged, compared to its average volume of 2,755,755. 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 has a 1-year low of $59.35 and a 1-year high of $75.09. The stock's 50-day moving average is $65.05 and its two-hundred day moving average is $66.35.

Rio Tinto Group Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, August 16th were given a $1.77 dividend. The ex-dividend date was Friday, August 16th. This represents a yield of 6.8%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RIO. Bank of Montreal Can raised its position in shares of Rio Tinto Group by 237.0% during the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company's stock worth $164,493,000 after acquiring an additional 1,738,752 shares during the last quarter. National Bank of Canada FI lifted its holdings in Rio Tinto Group by 296.2% in the first quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company's stock valued at $71,382,000 after buying an additional 764,635 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in Rio Tinto Group during the 2nd quarter worth about $48,129,000. Mediolanum International Funds Ltd acquired a new position in shares of Rio Tinto Group in the 3rd quarter valued at about $33,590,000. Finally, Palliser Capital UK Ltd increased its holdings in Rio Tinto Group by 690.6% in the second quarter. Palliser Capital UK Ltd now owns 499,675 shares of the mining company's stock worth $32,944,000 after purchasing an additional 436,475 shares in the last quarter. Institutional investors 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.