Rio Tinto Group (NYSE:RIO) Stock Rating Upgraded by Berenberg Bank

Rio Tinto Group (NYSE:RIO) was upgraded by equities researchers at Berenberg Bank from a “hold” rating to a “buy” rating in a report released on Wednesday, Marketbeat.com reports.

A number of other research analysts also recently commented on the company. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Down 1.4 %

Shares of RIO stock opened at $69.83 on Wednesday. The business has a 50 day moving average of $63.93 and a two-hundred day moving average of $66.06. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Institutional Trading of Rio Tinto Group

A number of institutional investors have recently made changes to their positions in the stock. GHP Investment Advisors Inc. bought a new stake in Rio Tinto Group during the second quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Rio Tinto Group in the first quarter valued at $26,000. Geneos Wealth Management Inc. boosted its stake in Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after buying an additional 148 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in Rio Tinto Group during the first quarter worth about $29,000. Finally, LifeSteps Financial Inc. acquired a new position in Rio Tinto Group during the first quarter worth about $33,000. 19.33% of the stock is 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.