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

StockNews.com downgraded shares of Rio Tinto Group (NYSE:RIO) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

Separately, Jefferies Financial Group reduced their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock opened at $62.67 on Friday. The business’s 50-day moving average price is $60.64 and its 200-day moving average price is $62.94. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The firm has a market capitalization of $78.52 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65.

Institutional Investors Weigh In On Rio Tinto Group

Large investors have recently made changes to their positions in the business. Rakuten Securities Inc. grew its position in shares of Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after buying an additional 211 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 worth $29,000 after buying an additional 195 shares during the last quarter. Mechanics Financial Corp bought a new stake in shares of Rio Tinto Group in the 4th quarter worth approximately $29,000. Hara Capital LLC bought a new stake in shares of Rio Tinto Group in the 3rd quarter worth approximately $53,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Rio Tinto Group in the 4th quarter worth approximately $47,000. 19.33% of the stock is currently owned by institutional investors.

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.