Rio Tinto Group (NYSE:RIO) Reaches New 12-Month Low – Time to Sell?

Rio Tinto Group (NYSE:RIO) reached a new 52-week low on Thursday . The stock traded as low as $57.85 and last traded at $58.62, with a volume of 6190186 shares trading hands. The stock had previously closed at $58.19.

Wall Street Analyst Weigh In

RIO has been the subject of several recent analyst reports. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Jefferies Financial Group lowered their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto Group currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Trading Up 0.5 %

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 stock has a market capitalization of $73.81 billion, a price-to-earnings ratio of 8.55, a PEG ratio of 0.38 and a beta of 0.66. The company’s 50 day moving average is $61.51 and its 200 day moving average is $63.79.

Institutional Investors Weigh In On Rio Tinto Group

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in shares of Rio Tinto Group by 3.9% during the second quarter. Bank of New York Mellon Corp now owns 77,694 shares of the mining company’s stock valued at $5,122,000 after purchasing an additional 2,908 shares during the period. Rhumbline Advisers raised its stake in shares of Rio Tinto Group by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 23,872 shares of the mining company’s stock valued at $1,574,000 after buying an additional 962 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Rio Tinto Group by 3.1% during the 2nd quarter. Private Advisor Group LLC now owns 32,903 shares of the mining company’s stock worth $2,169,000 after acquiring an additional 989 shares during the period. American Century Companies Inc. boosted its position in shares of Rio Tinto Group by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 238,110 shares of the mining company’s stock valued at $15,699,000 after acquiring an additional 14,506 shares in the last quarter. Finally, Eagle Strategies LLC bought a new stake in Rio Tinto Group in the second quarter valued at about $399,000. Institutional investors own 19.33% of the company’s stock.

About Rio Tinto Group

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.