Rio Tinto Group (NYSE:RIO) Shares Gap Down to $79.09

Rio Tinto Group (NYSE:RIOGet Rating) gapped down prior to trading on Thursday . The stock had previously closed at $79.09, but opened at $77.06. Rio Tinto Group shares last traded at $76.49, with a volume of 243,169 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on RIO shares. Deutsche Bank Aktiengesellschaft boosted their price target on Rio Tinto Group from GBX 5,800 ($71.63) to GBX 6,200 ($76.57) in a research report on Tuesday, January 10th. UBS Group lowered Rio Tinto Group from a “neutral” rating to a “sell” rating in a research report on Tuesday, December 13th. Citigroup lowered Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Thursday, December 1st. Morgan Stanley boosted their price target on Rio Tinto Group from GBX 5,750 ($71.01) to GBX 5,790 ($71.51) in a report on Monday, January 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Rio Tinto Group from GBX 5,310 ($65.58) to GBX 5,380 ($66.44) in a report on Wednesday, January 18th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group currently has an average rating of “Hold” and a consensus price target of $4,360.00.

Rio Tinto Group Price Performance

The company has a current ratio of 1.79, a quick ratio of 1.34 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average price of $72.66 and a 200 day moving average price of $62.97.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. New Millennium Group LLC acquired a new position in Rio Tinto Group during the second quarter valued at $43,000. WNY Asset Management LLC acquired a new position in Rio Tinto Group in the 3rd quarter worth about $378,000. YorkBridge Wealth Partners LLC increased its position in Rio Tinto Group by 2.9% in the 3rd quarter. YorkBridge Wealth Partners LLC now owns 7,100 shares of the mining company’s stock worth $391,000 after purchasing an additional 203 shares during the last quarter. Ulrich Consultants & Investment Group LLC increased its position in Rio Tinto Group by 1.2% in the 3rd quarter. Ulrich Consultants & Investment Group LLC now owns 54,431 shares of the mining company’s stock worth $2,997,000 after purchasing an additional 625 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in Rio Tinto Group by 2.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 57,615 shares of the mining company’s stock worth $3,172,000 after purchasing an additional 1,595 shares during the last quarter. 10.43% of the stock is owned by institutional investors and hedge funds.

About Rio Tinto Group

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Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

Further Reading

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