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

StockNews.com upgraded shares of Rio Tinto Group (NYSE:RIO) from a buy rating to a strong-buy rating in a research note issued to investors on Friday morning.

A number of other analysts also recently commented on the company. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. DZ Bank upgraded Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Jefferies Financial Group reduced their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group presently has an average rating of “Buy” and a consensus target price of $73.00.

Rio Tinto Group Stock Performance

Shares of RIO stock opened at $54.66 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The firm has a market capitalization of $68.54 billion, a price-to-earnings ratio of 8.47, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a one year low of $53.96 and a one year high of $74.24. The company has a 50 day moving average price of $61.82 and a 200 day moving average price of $62.82.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be issued a dividend of $2.23 per share. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) is presently 69.15%.

Institutional Trading of Rio Tinto Group

Several large investors have recently bought and sold shares of RIO. Townsquare Capital LLC boosted its stake in shares of Rio Tinto Group by 13.4% in the third quarter. Townsquare Capital LLC now owns 5,399 shares of the mining company’s stock valued at $384,000 after purchasing an additional 637 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Rio Tinto Group by 26.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,084 shares of the mining company’s stock valued at $77,000 after buying an additional 224 shares during the last quarter. Hilltop Holdings Inc. grew its stake in shares of Rio Tinto Group by 11.2% during the third quarter. Hilltop Holdings Inc. now owns 4,146 shares of the mining company’s stock valued at $295,000 after acquiring an additional 416 shares in the last quarter. IHT Wealth Management LLC acquired a new stake in shares of Rio Tinto Group during the third quarter valued at about $232,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Rio Tinto Group during the third quarter worth about $2,256,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Company Profile

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.