Rio Tinto Group (NYSE:RIO) Upgraded to Strong-Buy by StockNews.com

StockNews.com upgraded shares of Rio Tinto Group (NYSE:RIO) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday.

RIO has been the topic of several other research reports. Liberum Capital reiterated a hold rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. The Goldman Sachs Group initiated coverage on shares of Rio Tinto Group in a research report on Friday, January 12th. They set a buy rating for the company. Finally, BNP Paribas raised shares of Rio Tinto Group from a neutral rating to an outperform rating in a research report on Tuesday, December 5th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $72.00.

Rio Tinto Group Stock Performance

Shares of NYSE RIO opened at $63.46 on Wednesday. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $66.19 and its 200-day moving average price is $66.91. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09.

Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 18th. Stockholders of record on Friday, March 8th will be paid a $2.58 dividend. This represents a dividend yield of 6.6%. The ex-dividend date is Thursday, March 7th. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77.

Institutional Trading of Rio Tinto Group

A number of hedge funds have recently bought and sold shares of RIO. Schechter Investment Advisors LLC boosted its holdings in shares of Rio Tinto Group by 10.9% in the 3rd quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock worth $556,000 after buying an additional 858 shares during the last quarter. Sei Investments Co. boosted its stake in Rio Tinto Group by 18.3% in the third quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock valued at $45,926,000 after acquiring an additional 111,623 shares during the last quarter. Morgan Stanley increased its stake in shares of Rio Tinto Group by 2.7% during the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after purchasing an additional 118,706 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Rio Tinto Group by 4.0% in the 3rd quarter. LPL Financial LLC now owns 369,931 shares of the mining company’s stock worth $23,542,000 after purchasing an additional 14,083 shares during the period. Finally, Capital Investment Advisors LLC grew its holdings in Rio Tinto Group by 16.7% during the third quarter. Capital Investment Advisors LLC now owns 404,189 shares of the mining company’s stock valued at $25,723,000 after purchasing an additional 57,818 shares during the period. 19.33% of the stock is currently owned by institutional investors.

About Rio Tinto Group

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.