Rio Tinto Group (NYSE:RIO - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $57.85 and last traded at $58.62, with a volume of 6190186 shares changing hands. The stock had previously closed at $58.19.
Wall Street Analyst Weigh In
A number of research firms have recently commented on RIO. StockNews.com cut shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 12th. Macquarie reiterated a "neutral" rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Berenberg Bank upgraded Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group dropped their price target on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a research report on Monday. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $73.00.
Get Our Latest Report on RIO
Rio Tinto Group Trading Up 0.7 %
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 capitalization of $73.45 billion, a price-to-earnings ratio of 8.51, a PEG ratio of 0.38 and a beta of 0.66. The company has a fifty day moving average price of $61.64 and a two-hundred day moving average price of $63.84.
Institutional Trading of Rio Tinto Group
Hedge funds and other institutional investors have recently modified their holdings of the stock. GHP Investment Advisors Inc. acquired a new position in Rio Tinto Group in the second quarter valued at approximately $26,000. Winch Advisory Services LLC acquired a new position in shares of Rio Tinto Group in the 3rd quarter valued at $26,000. FSC Wealth Advisors LLC acquired a new position in shares of Rio Tinto Group in the 3rd quarter valued at $28,000. Sound Income Strategies LLC grew its holdings in shares of Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company's stock worth $30,000 after purchasing an additional 173 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Rio Tinto Group during the 3rd quarter worth about $38,000. 19.33% of the stock is owned by institutional investors and hedge funds.
About Rio Tinto Group
(
Get Free Report)
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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