Rio Tinto Group (NYSE:RIO) Stock Rating Lowered by StockNews.com

Rio Tinto Group (NYSE:RIO) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other brokerages also recently commented on RIO. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group decreased their target price on 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 analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Stock Up 0.9 %

RIO stock opened at $62.11 on Friday. The firm has a 50 day moving average of $61.02 and a 200-day moving average of $63.35. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Institutional Trading of Rio Tinto Group

Hedge funds have recently bought and sold shares of the company. Winch Advisory Services LLC bought a new position in Rio Tinto Group during the third quarter valued at approximately $26,000. FSC Wealth Advisors LLC bought a new position in shares of Rio Tinto Group during the 3rd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Rio Tinto Group by 63.9% during 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. Sound Income Strategies LLC increased its holdings in shares of Rio Tinto Group by 70.9% in 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 during the period. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Rio Tinto Group in the 3rd quarter valued at about $38,000. 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.