Rio Tinto Group (NYSE:RIO) Downgraded to Buy Rating by StockNews.com

StockNews.com lowered shares of Rio Tinto Group (NYSE:RIO) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

Separately, Jefferies Financial Group dropped their price objective on shares of 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 research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Trading Down 1.3 %

RIO opened at $63.43 on Friday. The firm’s fifty day moving average is $60.61 and its two-hundred day moving average is $62.94. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The firm has a market cap of $79.47 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24.

Institutional Investors Weigh In On Rio Tinto Group

A number of hedge funds and other institutional investors have recently made changes to their positions in RIO. Dorsey & Whitney Trust CO LLC grew its position in Rio Tinto Group by 2.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock valued at $477,000 after purchasing an additional 160 shares in the last quarter. Capital Analysts LLC grew its position in Rio Tinto Group by 6.0% in the fourth quarter. Capital Analysts LLC now owns 2,886 shares of the mining company’s stock valued at $170,000 after purchasing an additional 163 shares in the last quarter. Nemes Rush Group LLC grew its position in Rio Tinto Group by 10.0% in the fourth quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company’s stock valued at $109,000 after purchasing an additional 169 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in Rio Tinto Group by 4.3% in the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock valued at $303,000 after purchasing an additional 175 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

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.