Rio Tinto Group (NYSE:RIO) Reaches New 1-Year Low – What’s Next?

Shares of Rio Tinto Group (NYSE:RIO) hit a new 52-week low on Wednesday . The stock traded as low as $59.27 and last traded at $59.33, with a volume of 2658848 shares. The stock had previously closed at $61.46.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Down 3.4 %

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’s fifty day moving average price is $64.03 and its 200 day moving average price is $64.81.

Hedge Funds Weigh In On Rio Tinto Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Winch Advisory Services LLC bought a new position in shares of Rio Tinto Group during the third quarter worth about $26,000. GHP Investment Advisors Inc. bought a new position in Rio Tinto Group in the 2nd quarter worth about $26,000. FSC Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group in the third quarter valued at approximately $28,000. Sound Income Strategies LLC raised its holdings in shares of Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after buying an additional 173 shares during the last quarter. Finally, Centerpoint Advisors LLC boosted its position in shares of Rio Tinto Group by 110.0% during the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after buying an additional 275 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

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.