Rio Tinto Group (NYSE:RIO) Hits New 1-Year Low – Here’s What Happened

Shares of Rio Tinto Group (NYSE:RIO) hit a new 52-week low during trading on Friday . The company traded as low as $58.19 and last traded at $58.37, with a volume of 560408 shares trading hands. The stock had previously closed at $58.77.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RIO shares. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Trading Down 0.3 %

The business’s 50-day simple moving average is $62.24 and its two-hundred day simple moving average is $64.06. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $73.42 billion, a PE ratio of 8.51, a PEG ratio of 0.38 and a beta of 0.65.

Institutional Investors Weigh In On Rio Tinto Group

Hedge funds have recently bought and sold shares of the business. Bank of Montreal Can boosted its stake in shares of Rio Tinto Group by 237.0% during the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after buying an additional 1,738,752 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in Rio Tinto Group during the 2nd quarter valued at $48,129,000. Fisher Asset Management LLC grew its holdings in Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after acquiring an additional 485,731 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Rio Tinto Group in the 3rd quarter worth about $33,590,000. Finally, SPX Gestao de Recursos Ltda raised its stake in shares of Rio Tinto Group by 1,773.2% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after purchasing an additional 404,131 shares in the last quarter. Institutional investors and hedge funds 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.