StockNews.com Downgrades Rio Tinto Group (NYSE:RIO) to Buy

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

Separately, Jefferies Financial Group reduced their target price on 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 analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Stock Down 1.3 %

Shares of Rio Tinto Group stock opened at $63.43 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $60.61 and a two-hundred day moving average price of $62.94. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24.

Institutional Trading of Rio Tinto Group

Several large investors have recently made changes to their positions in the company. Fisher Asset Management LLC grew its stake in shares of Rio Tinto Group by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company’s stock valued at $1,035,319,000 after buying an additional 76,368 shares during the period. Franklin Resources Inc. grew its stake in shares of Rio Tinto Group by 1.4% in the 4th quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company’s stock valued at $300,841,000 after buying an additional 70,131 shares during the period. FMR LLC boosted its stake in Rio Tinto Group by 24.6% during the 4th quarter. FMR LLC now owns 1,721,690 shares of the mining company’s stock valued at $101,253,000 after purchasing an additional 339,924 shares during the last quarter. Northern Trust Corp boosted its stake in Rio Tinto Group by 18.9% during the 4th quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company’s stock valued at $94,275,000 after purchasing an additional 255,151 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Rio Tinto Group by 143,872.8% during the 4th quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock valued at $74,341,000 after purchasing an additional 1,263,203 shares during the last quarter. 19.33% of the stock is currently 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.