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

Shares of Rio Tinto Group (NYSE:RIOGet Rating) have been assigned a consensus rating of “Hold” from the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $5,760.00.

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Rio Tinto Group from GBX 5,800 ($70.77) to GBX 6,200 ($75.66) in a report on Tuesday, January 10th. CLSA downgraded Rio Tinto Group from an “outperform” rating to an “underperform” rating in a report on Tuesday. UBS Group downgraded Rio Tinto Group from a “neutral” rating to a “sell” rating in a report on Tuesday, December 13th. Berenberg Bank upgraded Rio Tinto Group from a “sell” rating to a “buy” rating in a research report on Thursday, January 12th. Finally, Barclays upgraded Rio Tinto Group from an “underweight” rating to an “equal weight” rating in a research report on Thursday, January 12th.

Rio Tinto Group Trading Up 0.6 %

RIO opened at $76.40 on Thursday. Rio Tinto Group has a 1-year low of $50.92 and a 1-year high of $84.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.34 and a current ratio of 1.79. The stock’s fifty day simple moving average is $69.65 and its 200 day simple moving average is $61.48.

Hedge Funds Weigh In On Rio Tinto Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Castle Wealth Management LLC acquired a new position in Rio Tinto Group in the second quarter valued at approximately $26,000. Cowa LLC bought a new stake in Rio Tinto Group during the first quarter worth $26,000. Tortoise Investment Management LLC bought a new stake in Rio Tinto Group during the second quarter worth $27,000. Twin Lakes Capital Management LLC bought a new stake in Rio Tinto Group during the third quarter worth $28,000. Finally, Larson Financial Group LLC bought a new position in Rio Tinto Group in the 2nd quarter valued at $33,000. 10.43% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Company Profile

(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.

Further Reading

Analyst Recommendations for Rio Tinto Group (NYSE:RIO)

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