Rio Tinto Group (NYSE:RIO) Price Target Lowered to $73.00 at Jefferies Financial Group

Rio Tinto Group (NYSE:RIO) had its target price lowered by Jefferies Financial Group from $83.00 to $73.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a buy rating on the mining company’s stock.

RIO has been the topic of several other research reports. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at $58.38 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The stock’s fifty day moving average is $62.08 and its two-hundred day moving average is $63.97. Rio Tinto Group has a 52 week low of $58.19 and a 52 week high of $74.24. The company has a market capitalization of $73.15 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 0.38 and a beta of 0.66.

Institutional Investors Weigh In On Rio Tinto Group

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in Rio Tinto Group by 3.9% in the second quarter. Bank of New York Mellon Corp now owns 77,694 shares of the mining company’s stock worth $5,122,000 after buying an additional 2,908 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Rio Tinto Group by 588.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 860 shares of the mining company’s stock worth $57,000 after acquiring an additional 735 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Rio Tinto Group by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 23,872 shares of the mining company’s stock worth $1,574,000 after purchasing an additional 962 shares during the last quarter. Foundations Investment Advisors LLC bought a new stake in Rio Tinto Group during the second quarter valued at about $229,000. Finally, Private Advisor Group LLC grew its stake in Rio Tinto Group by 3.1% in the second quarter. Private Advisor Group LLC now owns 32,903 shares of the mining company’s stock valued at $2,169,000 after purchasing an additional 989 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

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.