Rio Tinto Group (NYSE:RIO) Upgraded at StockNews.com

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

A number of other brokerages also recently commented on RIO. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Jefferies Financial Group reduced their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Trading Up 2.0 %

Shares of Rio Tinto Group stock traded up $1.21 during trading hours on Friday, hitting $61.00. 4,696,896 shares of the company were exchanged, compared to its average volume of 3,790,702. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The business has a 50-day moving average of $61.05 and a 200-day moving average of $63.61. 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

Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its holdings in Rio Tinto Group by 237.0% in the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after buying an additional 1,738,752 shares in the last quarter. Palliser Capital UK Ltd increased its stake in Rio Tinto Group by 213.8% in the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after purchasing an additional 674,117 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Rio Tinto Group by 2.9% during the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after purchasing an additional 485,731 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in Rio Tinto Group during the third quarter worth $33,590,000. Finally, SPX Gestao de Recursos Ltda grew its holdings in Rio Tinto Group by 1,773.2% in the third quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after purchasing an additional 404,131 shares during the last quarter. Hedge funds and other institutional investors 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.