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

Shares of Rio Tinto Group (NYSE:RIO) have received an average rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $72.00.

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating for the company. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Finally, StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday.

Rio Tinto Group Stock Performance

Shares of NYSE RIO opened at $66.00 on Friday. Rio Tinto Group has a 52 week low of $58.27 and a 52 week high of $75.09. The firm has a 50-day moving average price of $65.02 and a 200 day moving average price of $66.92. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 18th. Stockholders of record on Friday, March 8th will be paid a dividend of $2.58 per share. This represents a dividend yield of 6.6%. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date is Thursday, March 7th.

Institutional Investors Weigh In On Rio Tinto Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Garner Asset Management Corp acquired a new position in shares of Rio Tinto Group in the fourth quarter worth $25,000. AdvisorNet Financial Inc raised its stake in Rio Tinto Group by 785.7% in the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after purchasing an additional 330 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in Rio Tinto Group in the 1st quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Rio Tinto Group during the 3rd quarter worth about $27,000. Finally, First Manhattan Co. boosted its stake in shares of Rio Tinto Group by 555.4% during the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock worth $30,000 after purchasing an additional 361 shares during the last quarter. Hedge funds and other 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.