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

Rio Tinto Group (NYSE:RIO) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

A number of other analysts also recently issued reports on the company. The Goldman Sachs Group initiated coverage on Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating on the stock. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Rio Tinto Group presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Rio Tinto Group Trading Down 1.7 %

Shares of Rio Tinto Group stock opened at $67.83 on Monday. Rio Tinto Group has a twelve month low of $58.27 and a twelve month high of $75.09. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $64.90 and a 200-day moving average price of $67.42. The firm has a market cap of $84.96 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 3.12 and a beta of 0.70.

Hedge Funds Weigh In On Rio Tinto Group

A number of large investors have recently bought and sold shares of RIO. Northwest Investment Counselors LLC purchased a new position in Rio Tinto Group during the 1st quarter worth $26,000. AdvisorNet Financial Inc increased its holdings in shares of Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after purchasing an additional 330 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of Rio Tinto Group in the first quarter worth about $29,000. Accordant Advisory Group Inc purchased a new position in Rio Tinto Group during the first quarter worth approximately $31,000. Finally, SouthState Corp purchased a new position in shares of Rio Tinto Group during the 3rd quarter valued at approximately $32,000. Institutional investors 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.