Rio Tinto Group (NYSE:RIO) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of Rio Tinto Group (NYSE:RIO) from a buy rating to a strong-buy rating in a research note issued to investors on Friday.

Several other research analysts also recently issued reports on RIO. Royal Bank of Canada upgraded shares of Rio Tinto Group to a hold rating in a research report on Wednesday, July 31st. Citigroup lowered shares of Rio Tinto Group from a buy rating to a neutral rating in a research report on Monday, May 20th. Berenberg Bank lowered shares of Rio Tinto Group from a buy rating to a hold rating in a report on Thursday, June 27th. HSBC raised Rio Tinto Group from a hold rating to a buy rating in a report on Tuesday, July 23rd. Finally, Hsbc Global Res raised Rio Tinto Group to a strong-buy rating in a research note on Tuesday, July 23rd. Five analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy.

Rio Tinto Group Trading Up 0.5 %

Shares of RIO opened at $60.02 on Friday. 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 company has a market cap of $75.18 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 0.34 and a beta of 0.66. The stock has a fifty day moving average price of $63.99 and a two-hundred day moving average price of $65.81. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09.

Rio Tinto Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, August 16th will be issued a dividend of $1.77 per share. This represents a yield of 6.8%. The ex-dividend date of this dividend is Friday, August 16th. Rio Tinto Group’s dividend payout ratio is presently 49.51%.

Institutional Trading of Rio Tinto Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Northwest Investment Counselors LLC bought a new stake in Rio Tinto Group in the first quarter valued at about $26,000. Geneos Wealth Management Inc. grew its position in shares of Rio Tinto Group by 55.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after buying an additional 148 shares during the period. GHP Investment Advisors Inc. bought a new stake in shares of Rio Tinto Group in the 2nd quarter valued at about $26,000. YHB Investment Advisors Inc. bought a new stake in shares of Rio Tinto Group in the 1st quarter valued at about $29,000. Finally, LifeSteps Financial Inc. acquired a new stake in shares of Rio Tinto Group in the 1st quarter valued at approximately $33,000. Institutional investors own 19.33% of the company’s stock.

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.