Rio Tinto Group (NYSE:RIO) Downgraded by Berenberg Bank to Hold

Berenberg Bank lowered shares of Rio Tinto Group (NYSE:RIO) from a buy rating to a hold rating in a report issued on Thursday, MarketBeat.com reports.

RIO has been the topic of a number of other reports. Liberum Capital reissued a hold rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. StockNews.com raised Rio Tinto Group from a buy rating to a strong-buy rating in a research note on Tuesday, May 21st. Finally, Citigroup lowered Rio Tinto Group from a buy rating to a neutral rating in a research report on Monday, May 20th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $72.00.

Rio Tinto Group Price Performance

NYSE:RIO opened at $65.83 on Thursday. Rio Tinto Group has a 1-year low of $58.27 and a 1-year 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 firm’s 50-day moving average price is $68.85 and its 200-day moving average price is $68.17.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Meritage Portfolio Management raised its position in Rio Tinto Group by 0.3% in the 4th quarter. Meritage Portfolio Management now owns 42,192 shares of the mining company’s stock worth $3,142,000 after buying an additional 147 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Rio Tinto Group by 0.4% during the first quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock valued at $2,547,000 after purchasing an additional 147 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Rio Tinto Group by 55.4% in the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after purchasing an additional 148 shares during the last quarter. Dana Investment Advisors Inc. grew its position in Rio Tinto Group by 0.5% in the 3rd quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock worth $1,876,000 after purchasing an additional 150 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in Rio Tinto Group by 8.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock valued at $143,000 after buying an additional 150 shares during the last quarter. 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.