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

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

Several research firms have recently issued reports on RIO. StockNews.com lowered shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 12th. Macquarie reaffirmed a "neutral" rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Berenberg Bank raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada upgraded Rio Tinto Group to a "hold" rating in a report on Wednesday, July 31st.

Rio Tinto Group Stock Down 0.4 %

RIO traded down $0.22 during midday trading on Friday, hitting $62.35. 1,870,106 shares of the company were exchanged, compared to its average volume of 2,526,714. The company's 50 day simple moving average is $65.57 and its 200 day simple moving average is $65.79. 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 has a 1-year low of $59.35 and a 1-year high of $75.09.

Hedge Funds Weigh In On Rio Tinto Group

Several institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its stake in shares of Rio Tinto Group by 237.0% in the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company's stock valued at $164,493,000 after purchasing an additional 1,738,752 shares during the period. Natixis Advisors LLC grew its stake in shares of Rio Tinto Group by 8.7% in the second quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company's stock worth $45,870,000 after acquiring an additional 55,967 shares in the last quarter. Philip James Wealth Mangement LLC purchased a new stake in shares of Rio Tinto Group during the third quarter worth $1,345,000. First City Capital Management Inc. increased its position in shares of Rio Tinto Group by 118.5% during the second quarter. First City Capital Management Inc. now owns 15,178 shares of the mining company's stock worth $1,001,000 after acquiring an additional 8,230 shares during the period. Finally, Northwest Bancshares Inc. acquired a new stake in shares of Rio Tinto Group in the third quarter valued at $1,440,000. 19.33% of the stock is 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.