Rio Tinto Group (NYSE:RIO) Lifted to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Rio Tinto Group (NYSE:RIOFree Report) from a buy rating to a strong-buy rating in a research note published on Tuesday.

RIO has been the subject of a number of other research reports. Citigroup lowered Rio Tinto Group from a buy rating to a neutral rating in a report on Monday. Liberum Capital reaffirmed a hold rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $72.00.

Get Our Latest Research Report on RIO

Rio Tinto Group Stock Performance

Shares of RIO opened at $73.51 on Tuesday. The business has a 50-day moving average of $66.71 and a 200 day moving average of $68.15. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RIO. Wellington Management Group LLP grew its holdings in shares of Rio Tinto Group by 41.0% during the third quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock worth $1,476,052,000 after purchasing an additional 6,748,799 shares in the last quarter. National Bank of Canada FI lifted its position in Rio Tinto Group by 296.2% in the 1st quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock worth $71,382,000 after buying an additional 764,635 shares during the last quarter. SPX Gestao de Recursos Ltda lifted its position in Rio Tinto Group by 560.8% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 791,933 shares of the mining company’s stock worth $58,967,000 after buying an additional 672,095 shares during the last quarter. Fisher Asset Management LLC lifted its position in Rio Tinto Group by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock worth $1,194,751,000 after buying an additional 475,329 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Rio Tinto Group by 191.3% in the 4th quarter. Van ECK Associates Corp now owns 715,829 shares of the mining company’s stock worth $53,301,000 after buying an additional 470,073 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Company Profile

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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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Analyst Recommendations for Rio Tinto Group (NYSE:RIO)

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