Jefferies Financial Group Has Lowered Expectations for Rio Tinto Group (NYSE:RIO) Stock Price

Rio Tinto Group (NYSE:RIO) had its target price trimmed by Jefferies Financial Group from $83.00 to $73.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the mining company’s stock.

RIO has been the topic of a number of other reports. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Trading Up 0.7 %

Shares of Rio Tinto Group stock opened at $58.62 on Monday. The stock has a market capitalization of $73.45 billion, a P/E ratio of 8.51, a P/E/G ratio of 0.38 and a beta of 0.66. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The stock’s 50-day simple moving average is $61.77 and its 200 day simple moving average is $63.87.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Bank of Montreal Can grew its position in Rio Tinto Group by 237.0% during the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after buying an additional 1,738,752 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in shares of Rio Tinto Group in the 2nd quarter valued at about $48,129,000. Fisher Asset Management LLC boosted its position in shares of Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after acquiring an additional 485,731 shares during the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Rio Tinto Group during the third quarter worth about $33,590,000. Finally, SPX Gestao de Recursos Ltda increased its position in shares of 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 worth $30,384,000 after purchasing an additional 404,131 shares during the last quarter. 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.