Rio Tinto Group (NYSE:RIO) Upgraded to “Strong-Buy” 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 report report published on Monday.

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

Rio Tinto Group Stock Performance

Shares of NYSE:RIO opened at $69.02 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 fifty-two week low of $58.27 and a fifty-two week high of $75.09. The firm’s 50 day moving average price is $64.86 and its 200 day moving average price is $67.38.

Rio Tinto Group Increases Dividend

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

Institutional Investors Weigh In On Rio Tinto Group

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of Rio Tinto Group by 7.1% during the 4th quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company’s stock worth $1,849,476,000 after purchasing an additional 1,644,751 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Rio Tinto Group by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock worth $1,194,751,000 after buying an additional 475,329 shares during the last quarter. Morgan Stanley boosted its position in shares of Rio Tinto Group by 2.7% in the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after buying an additional 118,706 shares in the last quarter. Acadian Asset Management LLC grew its stake in Rio Tinto Group by 5.9% in the 3rd quarter. Acadian Asset Management LLC now owns 2,903,093 shares of the mining company’s stock valued at $184,721,000 after acquiring an additional 161,532 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Rio Tinto Group by 0.9% during the 3rd quarter. Northern Trust Corp now owns 1,893,222 shares of the mining company’s stock valued at $120,485,000 after acquiring an additional 17,401 shares in the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

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.