Rio Tinto Group (NYSE:RIO) Downgraded by Citigroup

Citigroup lowered shares of Rio Tinto Group (NYSE:RIOFree Report) from a buy rating to a neutral rating in a report released on Monday, MarketBeat Ratings reports.

Several other equities research analysts also recently weighed in on RIO. Liberum Capital reiterated a hold rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. StockNews.com cut shares of Rio Tinto Group from a strong-buy rating to a buy rating in a report on Monday, May 13th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $72.00.

Get Our Latest Stock Analysis on RIO

Rio Tinto Group Trading Down 1.7 %

Shares of RIO opened at $72.21 on Monday. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09. The firm has a 50-day simple moving average of $66.89 and a 200-day simple moving average of $68.17. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23.

Institutional Trading of Rio Tinto Group

A number of hedge funds have recently bought and sold shares of RIO. Schechter Investment Advisors LLC lifted its holdings in shares of Rio Tinto Group by 10.9% during the 3rd quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock valued at $556,000 after acquiring an additional 858 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Rio Tinto Group during the 4th quarter worth $7,954,000. Sei Investments Co. increased its stake in Rio Tinto Group by 18.3% during the 3rd quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock worth $45,926,000 after buying an additional 111,623 shares during the period. Morgan Stanley increased its stake in Rio Tinto Group by 2.7% during the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after buying an additional 118,706 shares during the period. Finally, Kingswood Wealth Advisors LLC increased its stake in Rio Tinto Group by 88.2% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock worth $612,000 after buying an additional 3,852 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

About Rio Tinto Group

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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.

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Analyst Recommendations for Rio Tinto Group (NYSE:RIO)

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