Berenberg Bank lowered shares of Rio Tinto Group (NYSE:RIO – Free Report) from a buy rating to a hold rating in a report released on Thursday morning, Marketbeat.com reports.
Other equities analysts have also recently issued reports about the stock. Citigroup cut shares of Rio Tinto Group from a buy rating to a neutral rating in a research note on Monday, May 20th. StockNews.com upgraded shares of Rio Tinto Group from a buy rating to a strong-buy rating in a research report on Tuesday, May 21st. Finally, Liberum Capital restated a hold rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $72.00.
Read Our Latest Stock Report on RIO
Rio Tinto Group Stock Down 1.5 %
Institutional Trading of Rio Tinto Group
A number of institutional investors and hedge funds have recently modified their holdings of RIO. International Assets Investment Management LLC purchased a new stake in Rio Tinto Group during the 4th quarter worth approximately $7,954,000. Sei Investments Co. raised its stake in Rio Tinto Group by 18.3% in the 3rd quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock valued at $45,926,000 after purchasing an additional 111,623 shares during the last quarter. Morgan Stanley lifted its holdings in Rio Tinto Group by 2.7% in the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock valued at $284,111,000 after purchasing an additional 118,706 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in Rio Tinto Group by 88.2% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock worth $612,000 after purchasing an additional 3,852 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Rio Tinto Group during the fourth quarter worth $4,319,000. Hedge funds and other institutional investors 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.
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