Rio Tinto Group (NYSE:RIO) Upgraded by StockNews.com to Strong-Buy

StockNews.com upgraded shares of Rio Tinto Group (NYSE:RIO) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday morning.

A number of other equities research analysts also recently commented on RIO. Liberum Capital reaffirmed a hold rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. The Goldman Sachs Group began coverage on shares of Rio Tinto Group in a research note on Friday, January 12th. They set a buy rating on the stock. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of Moderate Buy and an average price target of $72.00.

Rio Tinto Group Trading Up 0.4 %

Shares of NYSE RIO opened at $66.97 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. The company has a 50 day simple moving average of $64.87 and a two-hundred day simple moving average of $67.13. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09.

Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, March 8th were paid a $2.58 dividend. The ex-dividend date was Thursday, March 7th. This represents a yield of 6.6%. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77.

Institutional Trading of Rio Tinto Group

Several hedge funds have recently bought and sold shares of RIO. Wellington Management Group LLP lifted its stake in Rio Tinto Group by 41.0% in the 3rd quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock worth $1,476,052,000 after purchasing an additional 6,748,799 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Rio Tinto Group by 58.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,899,694 shares of the mining company’s stock worth $1,037,135,000 after buying an additional 4,783,488 shares during the last quarter. Cowa LLC bought a new stake in shares of Rio Tinto Group in the 1st quarter worth about $26,000. Goldman Sachs Group Inc. increased its holdings in shares of Rio Tinto Group by 56.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,707,717 shares of the mining company’s stock worth $424,997,000 after buying an additional 2,053,147 shares during the last quarter. Finally, SPX Gestao de Recursos Ltda grew its holdings in Rio Tinto Group by 560.8% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 791,933 shares of the mining company’s stock valued at $58,967,000 after purchasing an additional 672,095 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

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.