Rio Tinto Group (NYSE:RIO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Rio Tinto Group (NYSE:RIO) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company.

A number of research analysts have recently issued reports on the stock. Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th.

Hedge Funds Weigh In On Rio Tinto Group

A number of large investors have recently bought and sold shares of RIO. Bank of Montreal Can raised its stake in 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 purchasing an additional 1,738,752 shares during the period. Wellington Management Group LLP raised its stake in Rio Tinto Group by 7.1% during the fourth quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company’s stock worth $1,849,476,000 after purchasing an additional 1,644,751 shares during the period. National Bank of Canada FI raised its stake in Rio Tinto Group by 296.2% during the first quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock worth $71,382,000 after purchasing an additional 764,635 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in Rio Tinto Group during the second quarter worth approximately $48,129,000. Finally, SPX Gestao de Recursos Ltda increased its position in shares of Rio Tinto Group by 560.8% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 791,933 shares of the mining company’s stock worth $58,967,000 after acquiring an additional 672,095 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of NYSE:RIO opened at $63.19 on Tuesday. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The company has a 50-day simple moving average of $63.43 and a 200-day simple moving average of $65.70.

Rio Tinto Group Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, August 16th will be paid a dividend of $1.77 per share. This represents a yield of 6.8%. The ex-dividend date is Friday, August 16th.

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.