Rio Tinto Group (NYSE:RIO) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Rio Tinto Group (NYSE:RIO) from a buy rating to a strong-buy rating in a research report sent to investors on Friday.

Separately, Jefferies Financial Group dropped their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Performance

Shares of RIO stock opened at $63.38 on Friday. The stock’s 50-day moving average is $60.63 and its two-hundred day moving average is $62.95. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

Institutional Investors Weigh In On Rio Tinto Group

Several hedge funds have recently made changes to their positions in RIO. Creative Planning boosted its stake in shares of Rio Tinto Group by 4.4% during the third quarter. Creative Planning now owns 80,160 shares of the mining company’s stock worth $5,705,000 after buying an additional 3,413 shares during the period. NBC Securities Inc. boosted its stake in shares of Rio Tinto Group by 24.2% during the third quarter. NBC Securities Inc. now owns 1,207 shares of the mining company’s stock worth $85,000 after buying an additional 235 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Rio Tinto Group by 64.0% during the third quarter. Vontobel Holding Ltd. now owns 8,910 shares of the mining company’s stock worth $634,000 after buying an additional 3,476 shares during the period. Bleakley Financial Group LLC acquired a new stake in shares of Rio Tinto Group during the third quarter worth about $221,000. Finally, Ellsworth Advisors LLC boosted its stake in shares of Rio Tinto Group by 20.8% during the third quarter. Ellsworth Advisors LLC now owns 10,229 shares of the mining company’s stock worth $728,000 after buying an additional 1,761 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

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.