Rio Tinto Group (NYSE:RIO) Receives Consensus Rating of “Hold” from Brokerages

Shares of Rio Tinto Group (NYSE:RIO – Get Rating) have been given an average rating of “Hold” by the twenty research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $5,776.67.

RIO has been the subject of several recent analyst reports. Jefferies Financial Group raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of Rio Tinto Group from GBX 5,780 ($72.43) to GBX 5,730 ($71.80) in a report on Thursday, April 21st. Berenberg Bank downgraded shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, April 21st. Citigroup upgraded Rio Tinto Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 20th. Finally, Zacks Investment Research lowered Rio Tinto Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 4th.

Shares of Rio Tinto Group stock traded down $1.56 on Wednesday, hitting $76.84. 81,705 shares of the company traded hands, compared to its average volume of 2,928,129. The business has a 50-day simple moving average of $73.93 and a 200 day simple moving average of $72.75. Rio Tinto Group has a 52 week low of $59.58 and a 52 week high of $89.51. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.23.

Several hedge funds have recently bought and sold shares of the company. Professional Financial Advisors LLC acquired a new position in shares of Rio Tinto Group in the 1st quarter worth approximately $26,000. Cowa LLC bought a new stake in Rio Tinto Group during the 1st quarter valued at $26,000. Vigilant Capital Management LLC raised its stake in Rio Tinto Group by 308.2% during the 4th quarter. Vigilant Capital Management LLC now owns 400 shares of the mining company’s stock valued at $27,000 after acquiring an additional 302 shares in the last quarter. Key Financial Inc bought a new stake in Rio Tinto Group during the 4th quarter valued at $28,000. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Rio Tinto Group by 171.3% in the first quarter. AdvisorNet Financial Inc now owns 369 shares of the mining company’s stock valued at $30,000 after buying an additional 233 shares during the period. Institutional investors and hedge funds own 10.84% of the company’s stock.

About Rio Tinto Group (Get Rating)

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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