Rio Tinto Group (NYSE:RIO – Get Free Report) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.
A number of other research firms have also recently weighed in on RIO. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.
Get Our Latest Analysis on Rio Tinto Group
Rio Tinto Group Stock Down 2.2 %
Institutional Investors Weigh In On Rio Tinto Group
Institutional investors have recently made changes to their positions in the stock. GHP Investment Advisors Inc. acquired a new stake in shares of Rio Tinto Group during the second quarter worth $26,000. Winch Advisory Services LLC acquired a new stake in Rio Tinto Group during the 3rd quarter worth about $26,000. FSC Wealth Advisors LLC bought a new position in shares of Rio Tinto Group in the 3rd quarter worth about $28,000. Sound Income Strategies LLC lifted its stake in shares of 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. Finally, Centerpoint Advisors LLC boosted its position in shares of Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after purchasing an additional 275 shares in the last quarter. 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.
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