Rio Tinto PLC (NYSE:RIO) Receives Average Rating of “Moderate Buy” from Analysts

Rio Tinto PLC (NYSE:RIO) has received a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $85.00.

A number of research analysts recently weighed in on RIO shares. Argus boosted their target price on Rio Tinto from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Citigroup upgraded shares of Rio Tinto to a “hold” rating in a research report on Tuesday, February 10th. Morgan Stanley downgraded Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 28th. Zacks Research upgraded shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Rio Tinto in a research report on Thursday, January 22nd.

Rio Tinto Stock Up 0.6%

Shares of RIO stock opened at $97.67 on Tuesday. Rio Tinto has a 52-week low of $51.67 and a 52-week high of $100.33. The firm’s 50-day moving average is $88.08 and its 200-day moving average is $74.61. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Rio Tinto Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, April 16th. Investors of record on Friday, March 6th will be paid a $2.54 dividend. This represents a yield of 527.0%. The ex-dividend date of this dividend is Friday, March 6th.

Hedge Funds Weigh In On Rio Tinto

A number of institutional investors have recently modified their holdings of RIO. Arrowstreet Capital Limited Partnership grew its position in Rio Tinto by 170.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,886,335 shares of the mining company’s stock valued at $311,023,000 after acquiring an additional 2,451,140 shares during the last quarter. Milford Funds Ltd. bought a new stake in shares of Rio Tinto during the 4th quarter valued at approximately $93,143,000. Deutsche Bank AG grew its holdings in shares of Rio Tinto by 102.6% during the 4th quarter. Deutsche Bank AG now owns 2,216,935 shares of the mining company’s stock valued at $177,421,000 after purchasing an additional 1,122,667 shares during the last quarter. Natixis Advisors LLC lifted its stake in Rio Tinto by 144.7% in the 4th quarter. Natixis Advisors LLC now owns 1,587,387 shares of the mining company’s stock valued at $127,039,000 after purchasing an additional 938,687 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Rio Tinto in the second quarter valued at approximately $49,089,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

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.