Rio Tinto Group (NYSE:RIO) has received an average recommendation of “Hold” from the nineteen research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and eight have assigned a buy recommendation to the company.
Several equities analysts have weighed in on the company. Morgan Stanley reissued an “equal weight” rating on shares of Rio Tinto Group in a research report on Wednesday, March 24th. Societe Generale upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Thursday, March 18th. Barclays restated an “equal weight” rating on shares of Rio Tinto Group in a report on Wednesday. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rio Tinto Group in a report on Friday, March 5th. Finally, UBS Group reissued a “neutral” rating on shares of Rio Tinto Group in a research report on Thursday, February 18th.
A number of institutional investors have recently made changes to their positions in the stock. Trustcore Financial Services LLC lifted its holdings in Rio Tinto Group by 1,280.0% during the 4th quarter. Trustcore Financial Services LLC now owns 345 shares of the mining company’s stock worth $26,000 after buying an additional 320 shares during the last quarter. Glassman Wealth Services increased its holdings in shares of Rio Tinto Group by 61.8% in the 4th quarter. Glassman Wealth Services now owns 419 shares of the mining company’s stock valued at $32,000 after acquiring an additional 160 shares during the last quarter. Capital Asset Advisory Services LLC acquired a new stake in shares of Rio Tinto Group during the 4th quarter valued at approximately $34,000. RMR Wealth Builders acquired a new stake in shares of Rio Tinto Group during the 4th quarter valued at approximately $36,000. Finally, Pittenger & Anderson Inc. bought a new position in Rio Tinto Group during the fourth quarter worth $37,000. 7.53% of the stock is owned by hedge funds and other institutional investors.
Shares of RIO traded down $1.15 during mid-day trading on Friday, reaching $79.05. 82,929 shares of the company’s stock were exchanged, compared to its average volume of 2,353,803. The company has a quick ratio of 1.23, a current ratio of 1.61 and a debt-to-equity ratio of 0.31. Rio Tinto Group has a 52-week low of $44.11 and a 52-week high of $92.85. The company has a market cap of $98.66 billion, a price-to-earnings ratio of 12.49 and a beta of 0.67. The company has a 50-day simple moving average of $82.18 and a two-hundred day simple moving average of $73.20.
The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 15th. Stockholders of record on Friday, March 5th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, March 4th. This represents a dividend yield of 4.4%. Rio Tinto Group’s payout ratio is 97.63%.
About Rio Tinto Group
Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminum smelting; bauxite mining; alumina refining; and ilmenite, rutile, and zircon mining, as well as provision of gypsum.
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