Jefferies Financial Group Lowers Rio Tinto Group (NYSE:RIO) Price Target to $73.00

Rio Tinto Group (NYSE:RIO) had its target price reduced by Jefferies Financial Group from $83.00 to $73.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the mining company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 25.49% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Rio Tinto Group presently has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Performance

RIO opened at $58.17 on Monday. 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 company has a market capitalization of $72.88 billion, a price-to-earnings ratio of 8.44, a P/E/G ratio of 0.38 and a beta of 0.66. The business’s 50-day moving average price is $61.91 and its two-hundred day moving average price is $63.91. Rio Tinto Group has a 1 year low of $58.03 and a 1 year high of $74.24.

Institutional Trading of Rio Tinto Group

A number of large investors have recently added to or reduced their stakes in RIO. Bank of New York Mellon Corp lifted its stake in Rio Tinto Group by 3.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 77,694 shares of the mining company’s stock valued at $5,122,000 after purchasing an additional 2,908 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Rio Tinto Group by 588.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 860 shares of the mining company’s stock worth $57,000 after acquiring an additional 735 shares during the period. Rhumbline Advisers increased its holdings in shares of Rio Tinto Group by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 23,872 shares of the mining company’s stock worth $1,574,000 after acquiring an additional 962 shares during the last quarter. Foundations Investment Advisors LLC bought a new stake in Rio Tinto Group in the 2nd quarter valued at $229,000. Finally, Private Advisor Group LLC lifted its holdings in Rio Tinto Group by 3.1% during the 2nd quarter. Private Advisor Group LLC now owns 32,903 shares of the mining company’s stock valued at $2,169,000 after purchasing an additional 989 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

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.