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

Rio Tinto Group (NYSE:RIO - Get Free Report) has earned an average rating of "Moderate Buy" from the eight research firms that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $73.00.

A number of research analysts recently weighed in on the company. Macquarie reissued a "neutral" rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. StockNews.com downgraded shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, January 25th. Finally, Jefferies Financial Group dropped their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, January 6th.

Institutional Trading of Rio Tinto Group

A number of hedge funds have recently modified their holdings of RIO. Palliser Capital UK Ltd lifted its position in shares of Rio Tinto Group by 213.8% in the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company's stock worth $58,188,000 after acquiring an additional 674,117 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Rio Tinto Group in the 4th quarter worth approximately $29,606,000. Fisher Asset Management LLC lifted its position in shares of Rio Tinto Group by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company's stock worth $1,247,475,000 after acquiring an additional 485,731 shares during the period. Mediolanum International Funds Ltd bought a new stake in shares of Rio Tinto Group in the 3rd quarter worth approximately $33,590,000. Finally, SPX Gestao de Recursos Ltda raised its holdings in shares of Rio Tinto Group by 1,773.2% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company's stock worth $30,384,000 after buying an additional 404,131 shares in the last quarter. Institutional investors own 19.33% of the company's stock.

Rio Tinto Group Stock Performance

NYSE RIO traded up $0.39 during trading on Friday, hitting $62.34. 1,002,428 shares of the company traded hands, compared to its average volume of 3,275,496. The business has a fifty day simple moving average of $60.72 and a 200 day simple moving average of $62.99. Rio Tinto Group has a 12 month low of $57.85 and a 12 month 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.