Shares of Rio Tinto Group (NYSE:RIO - Get Free Report) have received an average rating of "Moderate Buy" from the eight analysts that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $73.00.
Several brokerages have recently weighed in on RIO. Berenberg Bank raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Macquarie restated a "neutral" rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Jefferies Financial Group lowered their target price on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 12th.
Read Our Latest Stock Report on RIO
Several large investors have recently modified their holdings of the stock. GHP Investment Advisors Inc. bought a new position in Rio Tinto Group in the 2nd quarter valued at about $26,000. Winch Advisory Services LLC bought a new position in Rio Tinto Group in the third quarter valued at approximately $26,000. FSC Wealth Advisors LLC acquired a new position in Rio Tinto Group during the third quarter valued at approximately $28,000. Sound Income Strategies LLC lifted its stake in Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company's stock worth $30,000 after purchasing an additional 173 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Rio Tinto Group in the 3rd quarter valued at $38,000. 19.33% of the stock is owned by institutional investors and hedge funds.
RIO opened at $58.91 on Monday. The stock's fifty day simple moving average is $61.51 and its 200 day simple moving average is $63.74. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. The stock has a market cap of $73.81 billion, a PE ratio of 8.55, a price-to-earnings-growth ratio of 0.38 and a beta of 0.66. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.
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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