Rio Tinto Group (NYSE:RIO) Raised 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 note issued to investors on Friday.

RIO has been the subject of several other research reports. DZ Bank upgraded Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating for the company. Finally, Jefferies Financial Group dropped their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $73.00.

Rio Tinto Group Stock Performance

Rio Tinto Group stock traded down $3.78 on Friday, reaching $54.66. 8,784,422 shares of the stock were exchanged, compared to its average volume of 2,855,147. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a twelve month low of $53.98 and a twelve month high of $74.24. The firm has a fifty day moving average price of $61.82 and a two-hundred day moving average price of $62.82. The stock has a market cap of $68.54 billion, a PE ratio of 8.47, a PEG ratio of 0.42 and a beta of 0.60.

Institutional Trading of Rio Tinto Group

Institutional investors have recently made changes to their positions in the business. Townsquare Capital LLC boosted its holdings in Rio Tinto Group by 13.4% during the third quarter. Townsquare Capital LLC now owns 5,399 shares of the mining company’s stock valued at $384,000 after purchasing an additional 637 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Rio Tinto Group by 26.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,084 shares of the mining company’s stock valued at $77,000 after acquiring an additional 224 shares during the period. Hilltop Holdings Inc. raised its stake in Rio Tinto Group by 11.2% during the third quarter. Hilltop Holdings Inc. now owns 4,146 shares of the mining company’s stock worth $295,000 after acquiring an additional 416 shares in the last quarter. IHT Wealth Management LLC bought a new position in shares of Rio Tinto Group during the third quarter valued at $232,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Rio Tinto Group in the 3rd quarter valued at $2,256,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

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.