Rio Tinto PLC (NYSE:RIO) Receives Average Recommendation of "Moderate Buy" from Analysts

Rio Tinto PLC (NYSE:RIO - Get Free Report) has earned an average rating of "Moderate Buy" from the eleven research firms that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $73.00.

A number of equities research analysts have recently commented on the stock. Wall Street Zen lowered shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a research note on Monday, April 28th. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto in a research report on Wednesday. JPMorgan Chase & Co. initiated coverage on Rio Tinto in a research report on Tuesday, March 18th. They issued an "overweight" rating for the company. DZ Bank upgraded Rio Tinto from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Rio Tinto in a report on Tuesday, June 3rd.

Rio Tinto Trading Down 2.2%

Shares of Rio Tinto stock traded down $1.30 during midday trading on Monday, reaching $57.72. The company had a trading volume of 4,488,227 shares, compared to its average volume of 3,056,926. The firm has a market cap of $72.38 billion, a PE ratio of 8.95 and a beta of 0.66. The stock has a fifty day moving average price of $59.56 and a 200 day moving average price of $60.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.13. Rio Tinto has a fifty-two week low of $51.67 and a fifty-two week high of $72.08.

Institutional Trading of Rio Tinto

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its position in shares of Rio Tinto by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company's stock valued at $502,787,000 after buying an additional 326,661 shares during the last quarter. Auto Owners Insurance Co lifted its stake in Rio Tinto by 77,150.0% during the 1st quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company's stock valued at $445,553,000 after acquiring an additional 7,406,400 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Rio Tinto by 1.4% during the 4th quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company's stock worth $300,841,000 after acquiring an additional 70,131 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Rio Tinto by 33.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company's stock worth $116,510,000 after acquiring an additional 490,357 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Rio Tinto by 24.6% in the fourth quarter. FMR LLC now owns 1,721,690 shares of the mining company's stock valued at $101,253,000 after purchasing an additional 339,924 shares during the last quarter. 19.33% of the stock is owned by institutional investors.

Rio Tinto 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.