Rio Tinto Group (NYSE:RIO) Lowered to “Hold” at Berenberg Bank

Berenberg Bank lowered shares of Rio Tinto Group (NYSE:RIO) from a buy rating to a hold rating in a research note released on Thursday morning, Marketbeat Ratings reports.

A number of other research analysts also recently issued reports on the stock. 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. Citigroup downgraded shares of Rio Tinto Group from a buy rating to a neutral rating in a research report on Monday, May 20th. Finally, Liberum Capital reiterated 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy.

Rio Tinto Group Stock Performance

Shares of NYSE RIO opened at $65.93 on Thursday. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The company’s 50 day moving average price is $68.81 and its 200-day moving average price is $68.11.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Meritage Portfolio Management raised its holdings in Rio Tinto Group by 0.3% during the fourth quarter. Meritage Portfolio Management now owns 42,192 shares of the mining company’s stock worth $3,142,000 after buying an additional 147 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Rio Tinto Group by 0.4% in the 1st quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock worth $2,547,000 after acquiring an additional 147 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Rio Tinto Group by 55.4% in the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after purchasing an additional 148 shares during the last quarter. Dana Investment Advisors Inc. raised its holdings in shares of Rio Tinto Group by 0.5% in the third quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock valued at $1,876,000 after purchasing an additional 150 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Rio Tinto Group by 8.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock valued at $143,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds 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.