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

StockNews.com upgraded shares of Rio Tinto Group (NYSE:RIO) from a buy rating to a strong-buy rating in a research note released on Monday.

RIO has been the topic of several other research reports. The Goldman Sachs Group initiated coverage on shares of Rio Tinto Group in a research report on Friday, January 12th. They issued a buy rating on the stock. Liberum Capital reaffirmed a hold rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $72.00.

Rio Tinto Group Stock Performance

Shares of RIO stock opened at $67.49 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52 week low of $58.27 and a 52 week high of $75.09. The firm’s 50-day simple moving average is $64.94 and its two-hundred day simple moving average is $67.42.

Rio Tinto Group Increases Dividend

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

Hedge Funds Weigh In On Rio Tinto Group

Several hedge funds have recently bought and sold shares of RIO. Northwest Investment Counselors LLC bought a new stake in Rio Tinto Group during the first quarter valued at approximately $26,000. AdvisorNet Financial Inc lifted its position in Rio Tinto Group by 785.7% during the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after purchasing an additional 330 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in Rio Tinto Group during the first quarter valued at approximately $29,000. Accordant Advisory Group Inc bought a new stake in Rio Tinto Group during the first quarter valued at approximately $31,000. Finally, SouthState Corp bought a new stake in shares of Rio Tinto Group in the 3rd quarter worth approximately $32,000. Hedge funds and other 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.