Rio Tinto PLC (NYSE:RIO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Rio Tinto PLC (NYSE:RIO) has been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $85.00.

A number of equities research analysts recently issued reports on the company. Morgan Stanley lowered Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 28th. Citigroup upgraded Rio Tinto to a “hold” rating in a report on Tuesday, February 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rio Tinto in a research report on Monday, December 29th. Erste Group Bank upgraded shares of Rio Tinto from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, Argus boosted 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.

Rio Tinto Stock Up 0.1%

RIO stock opened at $98.03 on Tuesday. Rio Tinto has a 12 month low of $51.67 and a 12 month high of $100.33. The company has a 50-day moving average price of $85.91 and a 200 day moving average price of $73.29. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RIO. Glen Eagle Advisors LLC raised its holdings in shares of Rio Tinto by 32.2% during the fourth quarter. Glen Eagle Advisors LLC now owns 452 shares of the mining company’s stock worth $36,000 after acquiring an additional 110 shares in the last quarter. Wealth Quarterback LLC increased its position in Rio Tinto by 1.8% in the 4th quarter. Wealth Quarterback LLC now owns 6,532 shares of the mining company’s stock worth $523,000 after purchasing an additional 118 shares during the last quarter. Americana Partners LLC raised its stake in shares of Rio Tinto by 0.8% during the 4th quarter. Americana Partners LLC now owns 16,108 shares of the mining company’s stock worth $1,289,000 after purchasing an additional 120 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Rio Tinto by 19.1% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 772 shares of the mining company’s stock valued at $62,000 after buying an additional 124 shares during the last quarter. Finally, Bailard Inc. lifted its holdings in shares of Rio Tinto by 1.1% during the 4th quarter. Bailard Inc. now owns 12,306 shares of the mining company’s stock valued at $985,000 after buying an additional 128 shares during the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

About Rio Tinto

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.