Rio Tinto Group (NYSE:RIO) Given Consensus Recommendation of "Moderate Buy" by Analysts

Rio Tinto Group (NYSE:RIO) has received an average analysts' recommendation of "Moderate Buy" from eleven research firms. Among them, five analysts rated it as a hold, five as buy, and one as strong buy. Recent upgrades and downgrades reflect varying perspectives on the stock. The company recently announced a semi-annual dividend of $0.77, yielding 6.8%. Institutional investors own 19.33% of the shares, with notable increases in holdings by several funds during the second quarter. The company's financial metrics include a market cap of $71.18 billion and a debt-to-equity ratio of 0.23.

Rio Tinto Group (NYSE:RIO - Get Free Report) has received an average recommendation of "Moderate Buy" from the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company.

Get Rio Tinto Group alerts:

Newmont Stock: Stake a Claim in the World’s Largest Gold Miner

Several research analysts have recently weighed in on RIO shares. Royal Bank of Canada upgraded shares of Rio Tinto Group to a "hold" rating in a report on Wednesday, July 31st. Hsbc Global Res upgraded Rio Tinto Group to a "strong-buy" rating in a report on Tuesday, July 23rd. Berenberg Bank downgraded Rio Tinto Group from a "buy" rating to a "hold" rating in a research note on Thursday, June 27th. StockNews.com raised Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Friday. Finally, HSBC raised Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Tuesday, July 23rd.

Check Out Our Latest Stock Analysis on RIO

Rio Tinto Group Price Performance

Leading Gold Stock Shines With Q2 2024 Earnings Release

Shares of RIO opened at $60.02 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The firm has a market capitalization of $75.18 billion, a PE ratio of 8.42, a P/E/G ratio of 0.34 and a beta of 0.66. The stock has a 50 day simple moving average of $63.99 and a 200 day simple moving average of $65.81. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09.

Rio Tinto Group Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, August 16th will be given a $1.77 dividend. This represents a dividend yield of 6.8%. The ex-dividend date is Friday, August 16th. Rio Tinto Group's dividend payout ratio is currently 49.51%.

Institutional Inflows and Outflows

4 Oversold Large Cap Stocks Yielding High Dividends

A number of hedge funds have recently bought and sold shares of RIO. Natixis Advisors LLC boosted its holdings in shares of Rio Tinto Group by 8.7% in the 2nd quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company's stock valued at $45,870,000 after buying an additional 55,967 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Rio Tinto Group by 38.1% in the second quarter. QRG Capital Management Inc. now owns 95,497 shares of the mining company's stock valued at $6,296,000 after acquiring an additional 26,329 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Rio Tinto Group in the fourth quarter valued at $4,319,000. Capstone Investment Advisors LLC bought a new position in shares of Rio Tinto Group in the 1st quarter valued at about $1,734,000. Finally, Salem Investment Counselors Inc. increased its stake in shares of Rio Tinto Group by 12.2% during the 1st quarter. Salem Investment Counselors Inc. now owns 127,216 shares of the mining company's stock worth $8,430,000 after purchasing an additional 13,856 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

About Rio Tinto Group

(Get Free Report

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.

Featured Stories

Five stocks we like better than Rio Tinto Group
Procter & Gamble NYSE: PG Pulls Back After Shaky Guidance
Why Block's Key Components Make It a Solid Investment Choice
Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
Is Applied Digital's Stock Set to Surge With NVIDIA's Backing?
3 Warren Buffett Stocks to Buy Now
4 Reasons to Consider Adding General Mills to Your Portfolio

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

→ Exposed: The Plot to Destroy America (From Banyan Hill Publishing) (Ad)

Should you invest $1,000 in Rio Tinto Group right now?

Before you consider Rio Tinto Group, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rio Tinto Group wasn't on the list.

While Rio Tinto Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here