Rio Tinto Group (NYSE:RIO) Rating Increased to Strong-Buy at DZ Bank

Rio Tinto Group (NYSE:RIO) was upgraded by investment analysts at DZ Bank from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Several other analysts have also commented on the stock. JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Jefferies Financial Group lowered their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Rio Tinto Group presently has a consensus rating of “Buy” and a consensus target price of $73.00.

Rio Tinto Group Price Performance

Shares of RIO opened at $60.99 on Thursday. The firm has a market capitalization of $76.48 billion, a PE ratio of 9.46, a P/E/G ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The stock’s 50 day moving average is $62.11 and its two-hundred day moving average is $62.92. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Institutional Investors Weigh In On Rio Tinto Group

Large investors have recently added to or reduced their stakes in the stock. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Rio Tinto Group by 2.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock valued at $477,000 after buying an additional 160 shares during the period. Capital Analysts LLC increased its position in Rio Tinto Group by 6.0% in the 4th quarter. Capital Analysts LLC now owns 2,886 shares of the mining company’s stock valued at $170,000 after acquiring an additional 163 shares in the last quarter. Nemes Rush Group LLC boosted its position in Rio Tinto Group by 10.0% in the 4th quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company’s stock valued at $109,000 after buying an additional 169 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares during the period. Finally, Cohen Investment Advisors LLC boosted its holdings in shares of Rio Tinto Group by 3.8% in the fourth quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock valued at $315,000 after buying an additional 198 shares during the period. Institutional investors own 19.33% of the company’s stock.

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.