Rio Tinto Group (NYSE:RIO - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued on Friday.
Separately, Jefferies Financial Group lowered their price objective on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $73.00.
Check Out Our Latest Analysis on RIO
Rio Tinto Group Price Performance
NYSE RIO traded up $0.85 on Friday, hitting $64.21. 2,240,645 shares of the stock traded hands, compared to its average volume of 3,197,888. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The business's fifty day moving average is $60.62 and its two-hundred day moving average is $62.92. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24.
Institutional Trading of Rio Tinto Group
A number of hedge funds and other institutional investors have recently made changes to their positions in RIO. Winch Advisory Services LLC purchased a new position in Rio Tinto Group during the 3rd quarter valued at about $26,000. FSC Wealth Advisors LLC purchased a new position in Rio Tinto Group during the third quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock worth $29,000 after acquiring an additional 195 shares during the period. Rakuten Securities Inc. lifted its stake in Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after purchasing an additional 211 shares in the last quarter. Finally, Mechanics Financial Corp bought a new position in Rio Tinto Group in the 4th quarter valued at $29,000. 19.33% of the stock is currently owned by institutional investors.
Rio Tinto Group Company Profile
(
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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