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

Shares of Rio Tinto Group (NYSE:RIO) have been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $72.00.

A number of brokerages recently commented on RIO. The Goldman Sachs Group initiated coverage on Rio Tinto Group in a research note on Friday, January 12th. They set a “buy” rating for the company. Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Finally, StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 29th.

Institutional Trading of Rio Tinto Group

Institutional investors have recently bought and sold shares of the stock. Meritage Portfolio Management grew its holdings in Rio Tinto Group by 0.3% during the 4th quarter. Meritage Portfolio Management now owns 42,192 shares of the mining company’s stock valued at $3,142,000 after purchasing an additional 147 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after buying an additional 148 shares during the period. Dana Investment Advisors Inc. grew its stake in shares of Rio Tinto Group by 0.5% during the third quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock valued at $1,876,000 after buying an additional 150 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Rio Tinto Group by 8.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock worth $143,000 after buying an additional 150 shares during the period. Finally, Optas LLC lifted its stake in shares of Rio Tinto Group by 4.2% during the 1st quarter. Optas LLC now owns 3,833 shares of the mining company’s stock worth $244,000 after acquiring an additional 154 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Performance

RIO opened at $70.02 on Wednesday. Rio Tinto Group has a 52 week low of $58.27 and a 52 week high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. The firm has a 50-day simple moving average of $65.26 and a two-hundred day simple moving average of $67.64.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, April 18th. Stockholders of record on Friday, March 8th were given a dividend of $2.58 per share. The ex-dividend date was Thursday, March 7th. This represents a dividend yield of 6.6%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77.

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.