Rio Tinto Group’s (RIO) “Overweight” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their overweight rating on shares of Rio Tinto Group (NYSE:RIO) in a research report released on Monday morning, The Fly reports.

RIO has been the subject of a number of other research reports. Royal Bank of Canada raised Rio Tinto Group from an underperform rating to a sector perform rating in a report on Wednesday, July 8th. Investec upgraded Rio Tinto Group from a hold rating to a buy rating in a report on Tuesday, October 6th. UBS Group reaffirmed a neutral rating on shares of Rio Tinto Group in a report on Monday, August 24th. Morgan Stanley reissued an equal weight rating on shares of Rio Tinto Group in a research note on Thursday, September 24th. Finally, Citigroup upgraded shares of Rio Tinto Group from a neutral rating to a buy rating in a research report on Wednesday, September 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $70.00.

RIO opened at $60.22 on Monday. The company has a market cap of $75.16 billion, a PE ratio of 9.51 and a beta of 0.64. Rio Tinto Group has a twelve month low of $35.35 and a twelve month high of $66.55. The company has a 50-day moving average price of $61.59 and a 200 day moving average price of $56.64. The company has a quick ratio of 1.23, a current ratio of 1.61 and a debt-to-equity ratio of 0.31.

Hedge funds have recently modified their holdings of the business. Anderson Hoagland & Co. boosted its holdings in Rio Tinto Group by 0.9% in the 2nd quarter. Anderson Hoagland & Co. now owns 23,250 shares of the mining company’s stock valued at $1,306,000 after purchasing an additional 200 shares during the last quarter. YorkBridge Wealth Partners LLC raised its position in shares of Rio Tinto Group by 4.3% during the 3rd quarter. YorkBridge Wealth Partners LLC now owns 5,002 shares of the mining company’s stock valued at $302,000 after buying an additional 208 shares during the period. Carroll Financial Associates Inc. lifted its holdings in Rio Tinto Group by 16.4% in the second quarter. Carroll Financial Associates Inc. now owns 1,759 shares of the mining company’s stock valued at $98,000 after acquiring an additional 248 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in Rio Tinto Group by 4.4% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 6,181 shares of the mining company’s stock worth $347,000 after acquiring an additional 259 shares during the period. Finally, Global Retirement Partners LLC increased its stake in Rio Tinto Group by 27.3% during the second quarter. Global Retirement Partners LLC now owns 1,323 shares of the mining company’s stock worth $74,000 after acquiring an additional 284 shares during the last quarter. 7.73% of the stock is currently owned by institutional investors.

About Rio Tinto Group

Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminum, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminum smelting; bauxite mining; alumina refining; and ilmenite, rutile, and zircon mining, as well as provision of gypsum.

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Analyst Recommendations for Rio Tinto Group (NYSE:RIO)

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