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

Shares of Rio Tinto PLC (NYSE:RIO) have received an average rating of “Moderate Buy” from the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $85.00.

A number of equities analysts have weighed in on RIO shares. Citigroup reiterated a “hold” rating on shares of Rio Tinto in a research report on Monday, November 17th. Argus upped their target price on shares of Rio Tinto from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Rio Tinto in a report on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rio Tinto in a research note on Monday, December 29th.

Hedge Funds Weigh In On Rio Tinto

Several hedge funds have recently modified their holdings of RIO. PFS Partners LLC purchased a new position in Rio Tinto during the fourth quarter valued at $28,000. Trust Co. of Toledo NA OH bought a new position in shares of Rio Tinto during the 4th quarter valued at about $34,000. Salomon & Ludwin LLC grew its position in shares of Rio Tinto by 62.2% during the third quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock valued at $31,000 after purchasing an additional 181 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Rio Tinto in the third quarter worth about $36,000. Finally, Triumph Capital Management purchased a new stake in shares of Rio Tinto in the third quarter worth about $38,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Stock Down 1.8%

Shares of NYSE:RIO opened at $87.21 on Friday. The stock has a 50 day moving average of $78.01 and a 200 day moving average of $69.12. Rio Tinto has a 12-month low of $51.67 and a 12-month high of $89.78. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37.

Rio Tinto Company Profile

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.