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

Rio Tinto Group (NYSE:RIO) has been assigned an average recommendation of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company.

A number of research firms recently issued reports on RIO. Citigroup downgraded shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Finally, HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd.

Hedge Funds Weigh In On Rio Tinto Group

Several institutional investors and hedge funds have recently made changes to their positions in RIO. Dynamic Advisor Solutions LLC purchased a new position in shares of Rio Tinto Group during the 4th quarter valued at approximately $289,000. Mutual Advisors LLC boosted its stake in shares of Rio Tinto Group by 13.9% during the 4th quarter. Mutual Advisors LLC now owns 7,163 shares of the mining company’s stock valued at $533,000 after buying an additional 873 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in shares of Rio Tinto Group by 88.2% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock valued at $612,000 after buying an additional 3,852 shares during the last quarter. Aprio Wealth Management LLC lifted its stake in Rio Tinto Group by 25.9% during the fourth quarter. Aprio Wealth Management LLC now owns 4,317 shares of the mining company’s stock worth $321,000 after purchasing an additional 888 shares during the last quarter. Finally, Schechter Investment Advisors LLC lifted its stake in Rio Tinto Group by 7.9% during the fourth quarter. Schechter Investment Advisors LLC now owns 9,420 shares of the mining company’s stock worth $701,000 after purchasing an additional 688 shares during the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Up 1.1 %

RIO opened at $65.06 on Monday. The firm has a 50 day moving average price of $67.58 and a 200 day moving average price of $67.10. Rio Tinto Group has a 1 year low of $58.27 and a 1 year 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.

About Rio Tinto Group

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.