Rio Tinto Group (NYSE:RIO) Upgraded at StockNews.com

StockNews.com upgraded shares of Rio Tinto Group (NYSE:RIO) from a buy rating to a strong-buy rating in a research report released on Friday morning.

Other equities analysts have also recently issued reports about the stock. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group lowered their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Stock Up 2.0 %

Rio Tinto Group stock opened at $61.00 on Friday. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The business’s 50-day moving average price is $60.98 and its 200 day moving average price is $63.56. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

Institutional Trading of Rio Tinto Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Winch Advisory Services LLC purchased a new stake in shares of Rio Tinto Group during the third quarter worth approximately $26,000. FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group during the 3rd quarter worth $28,000. Sound Income Strategies LLC grew its holdings in shares of Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after buying an additional 173 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after buying an additional 195 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Rio Tinto Group in the third quarter worth about $38,000. Hedge funds and other 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.