Rio Tinto Group (NYSE:RIO) Receives $73.00 Consensus Price Target from Analysts

Rio Tinto Group (NYSE:RIO) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $73.00.

Several equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group decreased their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th.

Institutional Investors Weigh In On Rio Tinto Group

Hedge funds have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. acquired a new stake in Rio Tinto Group in the second quarter valued at about $26,000. Winch Advisory Services LLC purchased a new position in Rio Tinto Group in the third quarter valued at about $26,000. FSC Wealth Advisors LLC purchased a new position in Rio Tinto Group in the third quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after buying an additional 195 shares in the last quarter. Finally, Sound Income Strategies LLC increased its holdings in Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after buying an additional 173 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 2.0 %

Shares of RIO opened at $61.00 on Monday. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The firm has a 50-day simple moving average of $61.05 and a 200-day simple moving average of $63.61. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

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.