StockNews.com Upgrades Rio Tinto Group (NYSE:RIO) to Strong-Buy

Rio Tinto Group (NYSE:RIO - Get Free Report) was upgraded by investment analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a note issued to investors on Friday.

Several other research analysts also recently commented on the company. Citigroup downgraded Rio Tinto Group from a "buy" rating to a "neutral" rating in a report on Monday, May 20th. Hsbc Global Res raised Rio Tinto Group to a "strong-buy" rating in a report on Tuesday, July 23rd. Berenberg Bank downgraded Rio Tinto Group from a "buy" rating to a "hold" rating in a report on Thursday, June 27th. HSBC raised Rio Tinto Group from a "hold" rating to a "buy" rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada raised Rio Tinto Group to a "hold" rating in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy".

Rio Tinto Group Stock Performance

RIO traded down $0.67 during midday trading on Friday, hitting $59.72. 3,387,675 shares of the company were exchanged, compared to its average volume of 2,706,135. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09. The firm's 50 day moving average price is $64.12 and its 200-day moving average price is $65.85. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

Institutional Trading of Rio Tinto Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position 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 valued at $2,547,000 after buying an additional 147 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Rio Tinto Group by 55.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company's stock valued at $26,000 after buying an additional 148 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Rio Tinto Group by 8.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company's stock valued at $143,000 after buying an additional 150 shares in the last quarter. Optas LLC increased its position in Rio Tinto Group by 4.2% in the 1st quarter. Optas LLC now owns 3,833 shares of the mining company's stock valued at $244,000 after buying an additional 154 shares in the last quarter. Finally, Eagle Bluffs Wealth Management LLC increased its position in Rio Tinto Group by 1.1% in the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company's stock valued at $989,000 after buying an additional 163 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

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.

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