Rio Tinto Group (NYSE:RIO) Hits New 1-Year Low – Time to Sell?

Rio Tinto Group (NYSE:RIO) shares reached a new 52-week low during trading on Friday . The stock traded as low as $58.19 and last traded at $58.37, with a volume of 560408 shares traded. The stock had previously closed at $58.77.

Wall Street Analyst Weigh In

RIO has been the subject of a number of analyst reports. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Down 0.4 %

The stock’s fifty day simple moving average is $62.37 and its 200-day simple moving average is $64.11. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The firm has a market cap of $73.33 billion, a PE ratio of 8.49, a PEG ratio of 0.38 and a beta of 0.65.

Hedge Funds Weigh In On Rio Tinto Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of Rio Tinto Group by 12.2% in the 4th quarter. GAMMA Investing LLC now owns 1,861 shares of the mining company’s stock valued at $109,000 after acquiring an additional 203 shares during the last quarter. SPX Gestao de Recursos Ltda boosted its holdings in Rio Tinto Group by 1,773.2% in the third quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after purchasing an additional 404,131 shares during the last quarter. DGS Capital Management LLC grew its position in Rio Tinto Group by 22.2% during the 3rd quarter. DGS Capital Management LLC now owns 16,797 shares of the mining company’s stock worth $1,195,000 after purchasing an additional 3,057 shares during the period. Tidal Investments LLC raised its stake in shares of Rio Tinto Group by 16.2% during the 3rd quarter. Tidal Investments LLC now owns 122,623 shares of the mining company’s stock valued at $8,727,000 after buying an additional 17,052 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Rio Tinto Group in the 3rd quarter valued at about $218,000. Institutional investors and hedge funds 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.