Rio Tinto Group (NYSE:RIO) Given Average Rating of “Moderate Buy” by Brokerages

Rio Tinto Group (NYSE:RIO) has been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company.

RIO has been the subject of several recent research reports. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Berenberg Bank downgraded shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Finally, Citigroup cut shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th.

Hedge Funds Weigh In On Rio Tinto Group

Several institutional investors have recently added to or reduced their stakes in the business. First Hawaiian Bank boosted its stake in Rio Tinto Group by 19.3% in the 2nd quarter. First Hawaiian Bank now owns 12,512 shares of the mining company’s stock worth $825,000 after buying an additional 2,026 shares during the last quarter. GAMMA Investing LLC grew its holdings in Rio Tinto Group by 17.3% in the second quarter. GAMMA Investing LLC now owns 1,624 shares of the mining company’s stock valued at $107,000 after purchasing an additional 240 shares during the period. Davis Capital Management increased its position in Rio Tinto Group by 10.0% during the second quarter. Davis Capital Management now owns 12,140 shares of the mining company’s stock worth $806,000 after purchasing an additional 1,099 shares during the last quarter. Confluence Investment Management LLC raised its stake in Rio Tinto Group by 3.8% during the second quarter. Confluence Investment Management LLC now owns 17,095 shares of the mining company’s stock worth $1,127,000 after purchasing an additional 626 shares during the period. Finally, Old Port Advisors boosted its holdings in shares of Rio Tinto Group by 19.4% in the 1st quarter. Old Port Advisors now owns 18,272 shares of the mining company’s stock valued at $1,165,000 after purchasing an additional 2,969 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Stock Up 2.9 %

Shares of RIO opened at $67.90 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09. The firm has a 50 day simple moving average of $68.78 and a 200-day simple moving average of $68.02.

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.