Rio Tinto PLC (NYSE:RIO) Given Average Rating of "Moderate Buy" by Analysts

Rio Tinto PLC (NYSE:RIO - Get Free Report) has received a consensus 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 recommendation, three have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $73.00.

Several research firms have weighed in on RIO. DZ Bank raised shares of Rio Tinto from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Barclays restated an "overweight" rating on shares of Rio Tinto in a research report on Wednesday. Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Wall Street Zen cut shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Finally, Morgan Stanley cut shares of Rio Tinto from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, April 9th.

Institutional Investors Weigh In On Rio Tinto

A number of hedge funds and other institutional investors have recently bought and sold shares of RIO. Wayfinding Financial LLC bought a new position in shares of Rio Tinto in the first quarter worth approximately $30,000. Rakuten Securities Inc. raised its position in Rio Tinto by 74.8% in the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after acquiring an additional 211 shares during the period. Mechanics Financial Corp bought a new position in Rio Tinto in the fourth quarter worth approximately $29,000. Pandora Wealth Inc. bought a new position in Rio Tinto in the first quarter worth approximately $30,000. Finally, Alpine Bank Wealth Management bought a new position in Rio Tinto in the first quarter worth approximately $30,000. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Stock Performance

NYSE RIO opened at $58.94 on Monday. Rio Tinto has a 52-week low of $51.67 and a 52-week high of $72.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.63. The company has a market capitalization of $73.91 billion, a P/E ratio of 9.14 and a beta of 0.66. The company has a fifty day moving average of $59.56 and a 200-day moving average of $60.06.

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.

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