StockNews.com upgraded shares of Rio Tinto Group (NYSE:RIO - Free Report) from a buy rating to a strong-buy rating in a report issued on Sunday morning.
Several other research firms have also issued reports on RIO. DZ Bank raised shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Barclays restated an "overweight" rating on shares of Rio Tinto Group in a research report on Wednesday, April 16th. Morgan Stanley downgraded shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. began coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They issued an "overweight" rating for the company. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $73.00.
View Our Latest Stock Analysis on RIO
Rio Tinto Group Stock Performance
NYSE RIO traded up $0.93 on Friday, hitting $60.55. 2,592,018 shares of the company traded hands, compared to its average volume of 2,857,696. The business's 50 day moving average price is $60.40 and its 200-day moving average price is $61.70. Rio Tinto Group has a 52-week low of $51.67 and a 52-week 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 market capitalization of $75.93 billion, a price-to-earnings ratio of 9.39, a P/E/G ratio of 0.42 and a beta of 0.66.
Rio Tinto Group Increases Dividend
The company also recently disclosed a semi-annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, March 7th were 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 was Friday, March 7th. This represents a yield of 7%. Rio Tinto Group's payout ratio is presently 69.15%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of RIO. Barclays PLC grew its stake in shares of Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company's stock worth $23,888,000 after buying an additional 232,539 shares in the last quarter. McIlrath & Eck LLC grew its position in Rio Tinto Group by 20.6% in the third quarter. McIlrath & Eck LLC now owns 1,382 shares of the mining company's stock worth $98,000 after acquiring an additional 236 shares in the last quarter. Advisory Resource Group grew its position in Rio Tinto Group by 11.1% in the third quarter. Advisory Resource Group now owns 16,812 shares of the mining company's stock worth $1,197,000 after acquiring an additional 1,678 shares in the last quarter. Stock Yards Bank & Trust Co. raised its position in Rio Tinto Group by 11.3% during the third quarter. Stock Yards Bank & Trust Co. now owns 5,212 shares of the mining company's stock valued at $371,000 after purchasing an additional 529 shares during the period. Finally, World Investment Advisors LLC lifted its stake in shares of Rio Tinto Group by 5.9% in the 3rd quarter. World Investment Advisors LLC now owns 4,802 shares of the mining company's stock valued at $342,000 after purchasing an additional 266 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.
Rio Tinto Group Company Profile
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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.
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