Rio Tinto Group (NYSE:RIO) Price Target Cut to $73.00 by Analysts at Jefferies Financial Group

Rio Tinto Group (NYSE:RIO - Get Free Report) had its price objective cut by equities research analysts at Jefferies Financial Group from $83.00 to $73.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the mining company's stock. Jefferies Financial Group's price target would indicate a potential upside of 25.04% from the stock's current price.

A number of other equities analysts also recently weighed in on RIO. StockNews.com downgraded shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 12th. Berenberg Bank upgraded Rio Tinto Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Finally, Macquarie restated a "neutral" rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Rio Tinto Group Trading Down 0.4 %

RIO traded down $0.22 during midday trading on Monday, hitting $58.38. The company's stock had a trading volume of 3,057,233 shares, compared to its average volume of 2,376,376. Rio Tinto Group has a 52-week low of $58.19 and a 52-week high of $74.24. The firm has a 50-day moving average price of $62.08 and a two-hundred day moving average price of $63.97. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a market cap of $73.15 billion, a P/E ratio of 8.47, a PEG ratio of 0.38 and a beta of 0.66.

Institutional Investors Weigh In On Rio Tinto Group

Several hedge funds have recently modified their holdings of RIO. GAMMA Investing LLC boosted its holdings in Rio Tinto Group by 12.2% in the 4th quarter. GAMMA Investing LLC now owns 1,861 shares of the mining company's stock worth $109,000 after acquiring an additional 203 shares during the period. SPX Gestao de Recursos Ltda boosted its stake in shares of Rio Tinto Group by 1,773.2% in the third quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company's stock valued at $30,384,000 after purchasing an additional 404,131 shares during the period. DGS Capital Management LLC grew its holdings in Rio Tinto Group by 22.2% during the 3rd quarter. DGS Capital Management LLC now owns 16,797 shares of the mining company's stock valued at $1,195,000 after purchasing an additional 3,057 shares in the last quarter. Tidal Investments LLC increased its stake in Rio Tinto Group by 16.2% during the 3rd quarter. Tidal Investments LLC now owns 122,623 shares of the mining company's stock worth $8,727,000 after buying an additional 17,052 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Rio Tinto Group in the 3rd quarter worth $218,000. 19.33% of the stock is currently owned by hedge funds and other 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.