Rio Tinto Group (NYSE:RIO) Stock Rating Lowered by StockNews.com

Rio Tinto Group (NYSE:RIO) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Separately, Jefferies Financial Group reduced their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Price Performance

NYSE RIO opened at $63.43 on Friday. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a market cap of $79.47 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65. The company has a 50-day moving average price of $60.61 and a two-hundred day moving average price of $62.94.

Institutional Trading of Rio Tinto Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. WNY Asset Management LLC lifted its stake in Rio Tinto Group by 2.8% during the fourth quarter. WNY Asset Management LLC now owns 8,255 shares of the mining company’s stock valued at $485,000 after purchasing an additional 225 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of Rio Tinto Group by 93.8% during the fourth quarter. Forum Financial Management LP now owns 8,299 shares of the mining company’s stock valued at $488,000 after acquiring an additional 4,017 shares during the period. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of Rio Tinto Group during the fourth quarter valued at approximately $1,391,000. Vise Technologies Inc. raised its holdings in shares of Rio Tinto Group by 4.9% during the fourth quarter. Vise Technologies Inc. now owns 14,606 shares of the mining company’s stock valued at $859,000 after acquiring an additional 679 shares during the period. Finally, Novem Group acquired a new stake in shares of Rio Tinto Group during the fourth quarter valued at approximately $718,000. 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.