Rio Tinto Group (NYSE:RIO) Stock Rating Upgraded by DZ Bank

Rio Tinto Group (NYSE:RIO) was upgraded by equities researchers at DZ Bank from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. 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. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $73.00.

Rio Tinto Group Stock Down 2.2 %

Shares of NYSE RIO opened at $60.99 on Thursday. The business has a 50-day moving average of $62.11 and a 200-day moving average of $62.92. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $76.48 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24.

Hedge Funds Weigh In On Rio Tinto Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG increased its holdings in shares of Rio Tinto Group by 143,872.8% in the fourth quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock valued at $74,341,000 after purchasing an additional 1,263,203 shares during the period. Dynamo Internacional Gestao DE Recursos LTDA. raised its stake in Rio Tinto Group by 119.2% in the 4th quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company’s stock valued at $2,423,000 after purchasing an additional 807,610 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Rio Tinto Group in the 4th quarter worth $40,032,000. Palliser Capital UK Ltd increased its position 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 worth $58,188,000 after purchasing an additional 674,117 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Rio Tinto Group during the 4th quarter valued at approximately $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.