Rio Tinto Group (NYSE:RIO) Upgraded by StockNews.com to Strong-Buy Rating

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

A number of other equities research analysts have also recently weighed in on the stock. Jefferies Financial Group dropped their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Trading Up 2.0 %

RIO 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 has a fifty day moving average of $60.98 and a two-hundred day moving average of $63.56. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Institutional Trading of Rio Tinto Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Fisher Asset Management LLC lifted its position in Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after purchasing an additional 485,731 shares during the period. Bank of Montreal Can increased its holdings in 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 acquiring an additional 1,738,752 shares in the last quarter. FMR LLC raised its position in shares of Rio Tinto Group by 35.1% during the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock worth $98,340,000 after purchasing an additional 358,630 shares during the last quarter. Palliser Capital UK Ltd raised its position in shares of Rio Tinto Group by 213.8% in the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after buying an additional 674,117 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in shares of Rio Tinto Group by 9.8% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company’s stock worth $66,341,000 after purchasing an additional 83,569 shares during the period. 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.