Rio Tinto Group (NYSE:RIO) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Rio Tinto Group (NYSE:RIO - Free Report) from a buy rating to a strong-buy rating in a report released on Sunday.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a research note on Tuesday, March 18th. They set an "overweight" rating on the stock. DZ Bank upgraded Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. Jefferies Financial Group dropped their price objective on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, Barclays reiterated an "overweight" rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $73.00.

Rio Tinto Group Stock Up 1.8 %

NYSE RIO traded up $1.07 on Friday, reaching $61.27. The company had a trading volume of 1,506,198 shares, compared to its average volume of 2,858,771. The firm has a market capitalization of $76.83 billion, a PE ratio of 9.50, a P/E/G ratio of 0.42 and a beta of 0.66. The firm has a 50-day moving average of $60.34 and a 200-day moving average of $61.69. Rio Tinto Group has a 1 year low of $51.67 and a 1 year high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, March 7th were issued a $2.23 dividend. The ex-dividend date was Friday, March 7th. This is a positive change from Rio Tinto Group's previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. Rio Tinto Group's payout ratio is 69.15%.

Hedge Funds Weigh In On Rio Tinto Group

A number of large investors have recently bought and sold shares of the business. Rakuten Securities Inc. lifted its holdings in shares of Rio Tinto Group by 74.8% in the 4th 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. Thurston Springer Miller Herd & Titak Inc. lifted its stake 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 during the last quarter. Mechanics Financial Corp acquired a new position in shares of Rio Tinto Group during the fourth quarter valued at $29,000. Alpine Bank Wealth Management bought a new position in shares of Rio Tinto Group during the first quarter worth about $30,000. Finally, Bfsg LLC increased its stake in shares of Rio Tinto Group by 5,754.5% in the first quarter. Bfsg LLC now owns 644 shares of the mining company's stock valued at $39,000 after purchasing an additional 633 shares during the period. Institutional investors own 19.33% of the company's stock.

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.