Rio Tinto Group (NYSE:RIO) Lowered to “Buy” Rating by 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 published on Tuesday.

Other equities research analysts also recently issued research reports about the company. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Rio Tinto Group presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Trading Down 2.2 %

RIO opened at $61.20 on Tuesday. The business’s 50-day simple moving average is $65.39 and its 200 day simple moving average is $66.24. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Institutional Investors Weigh In On Rio Tinto Group

Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in Rio Tinto Group by 0.4% in the 1st quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock valued at $2,547,000 after purchasing an additional 147 shares during the period. Armstrong Advisory Group Inc. grew its stake in shares of Rio Tinto Group by 9.6% in the third quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock valued at $129,000 after acquiring an additional 159 shares in the last quarter. Eagle Bluffs Wealth Management LLC increased its position in Rio Tinto Group by 1.1% during the second quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock worth $989,000 after acquiring an additional 163 shares during the period. Bessemer Group Inc. raised its stake in Rio Tinto Group by 2.4% in the 1st quarter. Bessemer Group Inc. now owns 7,304 shares of the mining company’s stock worth $465,000 after purchasing an additional 169 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares during the period. 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.