Analysts Set Rio Tinto Group (NYSE:RIO) Price Target at $73.00

Rio Tinto Group (NYSE:RIO - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eight research firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $73.00.

Several equities analysts have recently weighed in on the stock. Macquarie restated a "neutral" rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Berenberg Bank upgraded Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group lowered their price target on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, January 6th.

Rio Tinto Group Stock Performance

RIO stock traded up $0.72 during trading on Monday, reaching $59.56. 2,682,632 shares of the company's stock were exchanged, compared to its average volume of 3,039,162. The firm has a market cap of $74.62 billion, a PE ratio of 8.64, a P/E/G ratio of 0.38 and a beta of 0.66. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. The company's fifty day moving average price is $61.51 and its 200-day moving average price is $63.74.

Institutional Investors Weigh In On Rio Tinto Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Winch Advisory Services LLC acquired a new stake in Rio Tinto Group during the third quarter worth about $26,000. GHP Investment Advisors Inc. bought a new position in Rio Tinto Group during the 2nd quarter valued at about $26,000. FSC Wealth Advisors LLC acquired a new position in Rio Tinto Group in the third quarter valued at about $28,000. Sound Income Strategies LLC increased its holdings in shares of Rio Tinto Group by 70.9% during 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 in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of Rio Tinto Group in the third quarter valued at approximately $38,000. 19.33% of the stock is owned by institutional investors and hedge funds.

About Rio Tinto Group

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.