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

by · The Markets Daily

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

A number of research firms have recently weighed in on RIO. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. 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. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd.

Check Out Our Latest Stock Report on Rio Tinto Group

Rio Tinto Group Trading Up 0.8 %

RIO opened at $65.50 on Wednesday. Rio Tinto Group has a fifty-two week low of $59.35 and a fifty-two week high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The firm’s fifty day moving average is $65.25 and its 200 day moving average is $66.30.

Hedge Funds Weigh In On Rio Tinto Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Schrum Private Wealth Management LLC bought a new position in shares of Rio Tinto Group in the 3rd quarter valued at about $334,000. Oppenheimer & Co. Inc. lifted its stake in shares of Rio Tinto Group by 6.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 38,586 shares of the mining company’s stock valued at $2,746,000 after purchasing an additional 2,459 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Rio Tinto Group by 5.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 147,341 shares of the mining company’s stock worth $10,486,000 after purchasing an additional 7,897 shares during the period. Community Bank & Trust Waco Texas increased its position in shares of Rio Tinto Group by 134.0% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 20,386 shares of the mining company’s stock valued at $1,451,000 after purchasing an additional 11,675 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new stake in Rio Tinto Group during the 3rd quarter valued at $431,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

About Rio Tinto Group

(Get Free Report

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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