Rio Tinto Group (NYSE:RIO) Receives Average Rating of “Moderate Buy” from Analysts

Rio Tinto Group (NYSE:RIO) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $73.00.

RIO has been the topic of several recent analyst reports. Jefferies Financial Group dropped their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They issued an “overweight” rating on the stock. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd.

Rio Tinto Group Stock Down 2.2 %

Shares of NYSE RIO opened at $60.99 on Friday. The company’s 50 day moving average price is $62.11 and its 200-day moving average price is $62.92. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The company has a market capitalization of $76.48 billion, a P/E ratio of 9.46, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a dividend of $2.23 per share. This represents a yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s payout ratio is 69.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RIO. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after acquiring an additional 195 shares during the last quarter. Rakuten Securities Inc. raised its stake in shares of Rio Tinto Group by 74.8% in the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after purchasing an additional 211 shares during the last quarter. Mechanics Financial Corp bought a new position in shares of Rio Tinto Group in the fourth quarter valued at approximately $29,000. Golden State Wealth Management LLC purchased a new position in shares of Rio Tinto Group during the fourth quarter valued at approximately $47,000. Finally, Ameriflex Group Inc. bought a new stake in Rio Tinto Group during the fourth quarter worth $47,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

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.