Analysts at JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group (NYSE:RIO – Get Free Report) in a report released on Tuesday. The firm set an “overweight” rating on the mining company’s stock.
Several other research firms have also commented on RIO. 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. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Finally, Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.
Check Out Our Latest Stock Report on Rio Tinto Group
Rio Tinto Group Stock Down 0.2 %
Hedge Funds Weigh In On Rio Tinto Group
A number of institutional investors have recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC raised its position in Rio Tinto Group by 2.0% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock valued at $477,000 after purchasing an additional 160 shares during the last quarter. Capital Analysts LLC raised its position in Rio Tinto Group by 6.0% in the 4th quarter. Capital Analysts LLC now owns 2,886 shares of the mining company’s stock valued at $170,000 after purchasing an additional 163 shares during the last quarter. Nemes Rush Group LLC raised its position in Rio Tinto Group by 10.0% in the 4th quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company’s stock valued at $109,000 after purchasing an additional 169 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Finally, Cohen Investment Advisors LLC raised its position in Rio Tinto Group by 3.8% in the 4th quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock valued at $315,000 after purchasing an additional 198 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other 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.
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