Rio Tinto Group (NYSE:RIO) Sees Unusually-High Trading Volume – What’s Next?

Shares of Rio Tinto Group (NYSE:RIO) saw unusually-strong trading volume on Thursday . Approximately 1,590,120 shares changed hands during mid-day trading, a decline of 43% from the previous session’s volume of 2,802,012 shares.The stock last traded at $60.47 and had previously closed at $60.46.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group cut their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Macquarie reissued 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 investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Rio Tinto Group has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Stock Performance

The firm’s 50-day moving average price is $61.30 and its 200-day moving average price is $63.66. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Hedge Funds Weigh In On Rio Tinto Group

Several hedge funds have recently added to or reduced their stakes in RIO. Rhumbline Advisers grew its holdings in Rio Tinto Group by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 23,872 shares of the mining company’s stock valued at $1,574,000 after purchasing an additional 962 shares during the last quarter. American Century Companies Inc. grew its holdings in Rio Tinto Group by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 238,110 shares of the mining company’s stock valued at $15,699,000 after purchasing an additional 14,506 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in Rio Tinto Group by 19.8% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 5,559 shares of the mining company’s stock valued at $367,000 after purchasing an additional 920 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Rio Tinto Group by 3.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 128,617 shares of the mining company’s stock valued at $8,480,000 after purchasing an additional 4,023 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Rio Tinto Group by 78.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock valued at $56,565,000 after purchasing an additional 376,778 shares during the last quarter. 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.