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 Tuesday.

Several other equities analysts also recently weighed in on RIO. Liberum Capital restated a hold rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Citigroup lowered Rio Tinto Group from a buy rating to a neutral rating in a research note on Monday, May 20th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Rio Tinto Group presently has an average rating of Moderate Buy and a consensus target price of $72.00.

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at $71.85 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09. The stock’s fifty day moving average is $67.28 and its two-hundred day moving average is $68.23.

Institutional Trading of Rio Tinto Group

A number of hedge funds have recently bought and sold shares of the company. Meritage Portfolio Management increased its stake in Rio Tinto Group by 0.3% in the fourth quarter. Meritage Portfolio Management now owns 42,192 shares of the mining company’s stock valued at $3,142,000 after purchasing an additional 147 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Rio Tinto Group by 0.4% in the 1st quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock worth $2,547,000 after acquiring an additional 147 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after acquiring an additional 148 shares in the last quarter. Dana Investment Advisors Inc. raised its holdings in Rio Tinto Group by 0.5% in the third quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock valued at $1,876,000 after acquiring an additional 150 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Rio Tinto Group by 8.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock worth $143,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds 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.