Rio Tinto Group (NYSE:RIO) Raised to “Strong-Buy” at StockNews.com

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

Separately, Jefferies Financial Group reduced their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Stock Performance

Shares of RIO opened at $63.38 on Friday. The stock’s fifty day simple moving average is $60.65 and its 200-day simple moving average is $62.94. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

Institutional Investors Weigh In On Rio Tinto Group

Large investors have recently modified their holdings of the business. Dynamo Internacional Gestao DE Recursos LTDA. raised its holdings in Rio Tinto Group by 119.2% during the 4th quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company’s stock worth $2,423,000 after buying an additional 807,610 shares during the period. Paloma Partners Management Co bought a new stake in shares of Rio Tinto Group during the fourth quarter worth $40,032,000. Palliser Capital UK Ltd raised its holdings in shares of Rio Tinto Group by 213.8% during the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after acquiring an additional 674,117 shares during the period. Raymond James Financial Inc. bought a new stake in Rio Tinto Group in the 4th quarter valued at $29,606,000. Finally, Fisher Asset Management LLC increased its holdings in 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 worth $1,247,475,000 after purchasing an additional 485,731 shares in the last quarter. 19.33% of the stock is currently owned by 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.