Rio Tinto Group (NYSE:RIO) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of Rio Tinto Group (NYSE:RIO) to a strong-buy rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

A number of other research analysts also recently weighed in on RIO. Berenberg Bank downgraded shares of Rio Tinto Group from a buy rating to a hold rating in a report on Thursday, June 27th. Citigroup downgraded shares of Rio Tinto Group from a buy rating to a neutral rating in a report on Monday, May 20th. StockNews.com upgraded shares of Rio Tinto Group from a buy rating to a strong-buy rating in a report on Tuesday, May 21st. Finally, HSBC upgraded shares of Rio Tinto Group from a hold rating to a buy rating in a report on Tuesday. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy.

Rio Tinto Group Trading Up 1.3 %

RIO stock opened at $64.33 on Tuesday. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $67.75 and a two-hundred day moving average of $67.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Rio Tinto Group in the 4th quarter valued at $7,954,000. Kingswood Wealth Advisors LLC grew its position in Rio Tinto Group by 88.2% in 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. Campbell & CO Investment Adviser LLC acquired a new stake in Rio Tinto Group in the 4th quarter worth $4,319,000. abrdn plc grew its position in Rio Tinto Group by 8.8% in the 4th quarter. abrdn plc now owns 215,100 shares of the mining company’s stock worth $16,016,000 after purchasing an additional 17,400 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in Rio Tinto Group in the 1st quarter worth $1,734,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

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.