Rio Tinto PLC (NYSE:RIO) Given Average Recommendation of “Moderate Buy” by Brokerages

Rio Tinto PLC (NYSE:RIO) has been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are presently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $85.00.

A number of research analysts have recently commented on the company. Erste Group Bank raised Rio Tinto from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Citigroup upgraded Rio Tinto to a “hold” rating in a research note on Tuesday, February 10th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Rio Tinto in a research report on Thursday, January 22nd. Morgan Stanley lowered Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 28th. Finally, Zacks Research raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th.

Rio Tinto Stock Performance

Shares of RIO opened at $98.03 on Tuesday. The company’s fifty day moving average is $85.91 and its 200-day moving average is $73.29. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. Rio Tinto has a 12 month low of $51.67 and a 12 month high of $100.33.

Institutional Investors Weigh In On Rio Tinto

Institutional investors have recently added to or reduced their stakes in the company. Capital Advisors Inc. OK grew its stake in Rio Tinto by 20.6% in the third quarter. Capital Advisors Inc. OK now owns 520,428 shares of the mining company’s stock valued at $34,353,000 after acquiring an additional 89,069 shares during the period. QSM Asset Management Ltd acquired a new stake in shares of Rio Tinto during the third quarter worth $11,509,000. Campbell & CO Investment Adviser LLC lifted its position in Rio Tinto by 479.6% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 144,553 shares of the mining company’s stock valued at $9,542,000 after acquiring an additional 119,614 shares in the last quarter. Synergy Asset Management LLC boosted its stake in Rio Tinto by 272.2% in the 3rd quarter. Synergy Asset Management LLC now owns 205,418 shares of the mining company’s stock worth $12,712,000 after purchasing an additional 150,234 shares during the period. Finally, Assetmark Inc. increased its holdings in Rio Tinto by 8.1% during the 2nd quarter. Assetmark Inc. now owns 70,330 shares of the mining company’s stock worth $4,102,000 after purchasing an additional 5,259 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Company Profile

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.