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

Rio Tinto PLC (NYSE:RIO) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $73.00.

RIO has been the subject of several recent analyst reports. Citigroup restated a “hold” rating on shares of Rio Tinto in a research note on Monday, November 17th. Zacks Research cut Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Royal Bank Of Canada restated a “sector perform” rating on shares of Rio Tinto in a research note on Monday, December 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rio Tinto in a research note on Monday, December 1st. Finally, Morgan Stanley reissued an “overweight” rating on shares of Rio Tinto in a report on Wednesday, October 8th.

Institutional Trading of Rio Tinto

Several large investors have recently bought and sold shares of RIO. Pandora Wealth Inc. acquired a new stake in Rio Tinto during the 1st quarter worth about $30,000. Salomon & Ludwin LLC lifted its holdings in shares of Rio Tinto by 62.2% during the third quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock worth $31,000 after purchasing an additional 181 shares during the period. Root Financial Partners LLC purchased a new stake in Rio Tinto in the third quarter valued at approximately $36,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Rio Tinto in the second quarter valued at approximately $38,000. Finally, Triumph Capital Management acquired a new position in Rio Tinto in the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Stock Down 0.1%

RIO stock opened at $72.99 on Thursday. Rio Tinto has a one year low of $51.67 and a one year high of $74.53. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. The firm has a 50-day simple moving average of $69.85 and a two-hundred day simple moving average of $64.01.

About Rio Tinto

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.