Rio Tinto Group (NYSE:RIO) Downgraded by StockNews.com to “Buy”

StockNews.com cut shares of Rio Tinto Group (NYSE:RIO) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday.

Several other research firms have also issued reports on RIO. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group currently has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Down 0.3 %

Shares of RIO opened at $60.42 on Tuesday. The business has a 50-day simple moving average of $65.42 and a two-hundred day simple moving average of $66.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09.

Hedge Funds Weigh In On Rio Tinto Group

Several institutional investors have recently bought and sold shares of the stock. Winch Advisory Services LLC bought a new position in shares of Rio Tinto Group during the 3rd quarter valued at about $26,000. GHP Investment Advisors Inc. purchased a new position in Rio Tinto Group during the 2nd quarter valued at approximately $26,000. FSC Wealth Advisors LLC bought a new stake in Rio Tinto Group in the 3rd quarter worth approximately $28,000. Sound Income Strategies LLC increased its stake in Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after acquiring an additional 173 shares during the last quarter. Finally, Centerpoint Advisors LLC boosted its position in shares of Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after acquiring an additional 275 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

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.