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

Rio Tinto Group (NYSE:RIO) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company.

A number of research firms have commented on RIO. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $62.84 on Friday. The company’s 50 day simple moving average is $65.46 and its 200-day simple moving average is $65.56. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09.

Institutional Trading of Rio Tinto Group

Hedge funds have recently modified their holdings of the stock. Winch Advisory Services LLC purchased a new stake in Rio Tinto Group during the 3rd quarter worth about $26,000. GHP Investment Advisors Inc. acquired a new position in Rio Tinto Group during the 2nd quarter worth approximately $26,000. FSC Wealth Advisors LLC purchased a new stake in shares of Rio Tinto Group in the 3rd quarter valued at approximately $28,000. Sound Income Strategies LLC raised its holdings in shares of Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares in the last quarter. Finally, Centerpoint Advisors LLC lifted its position in shares of Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after purchasing an additional 275 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

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.