Rio Tinto Group (NYSE:RIO) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Rio Tinto Group (NYSE:RIO – Get Rating) in a research note released on Thursday. The brokerage issued a buy rating on the mining company’s stock.

RIO has been the topic of several other reports. Citigroup downgraded shares of Rio Tinto Group from a buy rating to a neutral rating in a research report on Thursday, December 1st. BNP Paribas cut shares of Rio Tinto Group from an outperform rating to a neutral rating in a research note on Monday, February 13th. CLSA upgraded shares of Rio Tinto Group from an underperform rating to an outperform rating in a report on Monday, March 13th. Morgan Stanley boosted their price target on shares of Rio Tinto Group from GBX 5,750 ($70.08) to GBX 5,790 ($70.57) in a report on Monday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Rio Tinto Group from GBX 5,800 ($70.69) to GBX 6,200 ($75.56) in a research report on Tuesday, January 10th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $5,790.00.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $64.67 on Thursday. The company’s 50 day moving average price is $74.02 and its 200-day moving average price is $65.87. Rio Tinto Group has a 52 week low of $50.92 and a 52 week high of $83.21. The company has a current ratio of 1.64, a quick ratio of 1.10 and a debt-to-equity ratio of 0.21.

Rio Tinto Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 20th. Stockholders of record on Friday, March 10th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a dividend yield of 9.8%.

Institutional Trading of Rio Tinto Group

Institutional investors and hedge funds have recently bought and sold shares of the business. CNB Bank acquired a new position in shares of Rio Tinto Group during the 4th quarter worth $28,000. First Manhattan Co. increased its position in Rio Tinto Group by 555.4% during the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock worth $30,000 after purchasing an additional 361 shares in the last quarter. Twin Lakes Capital Management LLC acquired a new stake in Rio Tinto Group during the 3rd quarter worth approximately $28,000. JFS Wealth Advisors LLC grew its position in Rio Tinto Group by 2,536.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 580 shares of the mining company’s stock valued at $41,000 after acquiring an additional 558 shares in the last quarter. Finally, Ronald Blue Trust Inc. acquired a new stake in Rio Tinto Group in the second quarter valued at approximately $50,000. Hedge funds and other institutional investors own 10.43% of the company’s stock.

About Rio Tinto Group

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Rio Tinto Plc engages in the exploration, mining, and processing of mineral resources. It operates through the following business segments: Iron Ore, Aluminium, Copper and Diamonds, Energy and Minerals, and Other Operations. The Iron Ore segment supplies global seaborne iron ore trade. The Aluminium segment produces bauxite, alumina and primary aluminum.