Rio Tinto Group (NYSE:RIO) Stock Rating Upgraded by StockNews.com

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

Separately, Jefferies Financial Group reduced their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Price Performance

Shares of NYSE:RIO opened at $63.38 on Friday. The company’s 50-day moving average price is $60.65 and its two-hundred day moving average price is $62.94. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Institutional Investors Weigh In On Rio Tinto Group

Institutional investors and hedge funds have recently modified their holdings of the company. Winch Advisory Services LLC bought a new position in Rio Tinto Group during the third quarter worth about $26,000. FSC Wealth Advisors LLC bought a new position in shares of Rio Tinto Group during the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after acquiring an additional 195 shares during the last quarter. Rakuten Securities Inc. raised its stake in Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after acquiring an additional 211 shares during the period. Finally, Mechanics Financial Corp acquired a new stake in Rio Tinto Group during the 4th quarter valued at $29,000. 19.33% of the stock is owned by institutional investors.

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.