Rio Tinto Group (NYSE:RIO) Rating Lowered to Buy at StockNews.com

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

Separately, Jefferies Financial Group lowered their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rio Tinto Group presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Trading Down 1.4 %

RIO opened at $62.67 on Friday. The stock has a market cap of $78.52 billion, a PE ratio of 9.72, a PEG ratio of 0.42 and a beta of 0.65. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average of $60.64 and a 200-day moving average of $62.94. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RIO. Deutsche Bank AG raised its stake in Rio Tinto Group by 143,872.8% during the fourth quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock valued at $74,341,000 after buying an additional 1,263,203 shares during the last quarter. Dynamo Internacional Gestao DE Recursos LTDA. raised its stake in Rio Tinto Group by 119.2% during the fourth quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company’s stock valued at $2,423,000 after buying an additional 807,610 shares during the last quarter. Paloma Partners Management Co purchased a new position in Rio Tinto Group during the fourth quarter valued at $40,032,000. Palliser Capital UK Ltd raised its stake in 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 valued at $58,188,000 after buying an additional 674,117 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Rio Tinto Group during the fourth quarter valued at $29,606,000. Hedge funds and other 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.