Rio Tinto Group (NYSE:RIO) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Rio Tinto Group (NYSE:RIO - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eleven analysts that are covering the firm, MarketBeat.com reports. Four investment 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 12-month price target among brokerages that have issued a report on the stock in the last year is $73.00.

A number of equities research analysts have issued reports on the company. Jefferies Financial Group reiterated a "hold" rating on shares of Rio Tinto Group in a research note on Tuesday, June 3rd. Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Barclays reiterated an "overweight" rating on shares of Rio Tinto Group in a research report on Wednesday, April 16th. Wall Street Zen downgraded shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Finally, DZ Bank upgraded Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th.

Rio Tinto Group Stock Performance

Shares of RIO traded down $0.82 during mid-day trading on Thursday, hitting $57.86. 2,262,772 shares of the company traded hands, compared to its average volume of 2,928,481. The stock has a market cap of $72.55 billion, a price-to-earnings ratio of 8.98, a P/E/G ratio of 0.42 and a beta of 0.68. Rio Tinto Group has a 1 year low of $51.67 and a 1 year high of $72.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The stock has a 50-day moving average price of $59.35 and a two-hundred day moving average price of $60.61.

Hedge Funds Weigh In On Rio Tinto Group

Several large investors have recently added to or reduced their stakes in RIO. Ellsworth Advisors LLC grew its position in shares of Rio Tinto Group by 22.9% in the 1st quarter. Ellsworth Advisors LLC now owns 13,696 shares of the mining company's stock worth $823,000 after acquiring an additional 2,553 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Rio Tinto Group by 37.9% during the 1st quarter. Acadian Asset Management LLC now owns 57,595 shares of the mining company's stock worth $3,458,000 after purchasing an additional 15,839 shares during the period. Geneos Wealth Management Inc. boosted its position in Rio Tinto Group by 68.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,427 shares of the mining company's stock valued at $86,000 after purchasing an additional 578 shares during the period. Focus Partners Wealth grew its stake in Rio Tinto Group by 16.7% during the 1st quarter. Focus Partners Wealth now owns 15,985 shares of the mining company's stock worth $962,000 after buying an additional 2,285 shares during the last quarter. Finally, McIlrath & Eck LLC lifted its stake in Rio Tinto Group by 88.2% in the first quarter. McIlrath & Eck LLC now owns 2,492 shares of the mining company's stock valued at $150,000 after buying an additional 1,168 shares during the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

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.