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

Rio Tinto Group (NYSE:RIO) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

A number of other equities analysts have also recently commented on RIO. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Berenberg Bank raised 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, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Down 0.9 %

RIO opened at $60.62 on Tuesday. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The business has a fifty day simple moving average of $65.41 and a 200-day simple moving average of $66.19.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. purchased a new stake in shares of Rio Tinto Group during the 2nd quarter worth $26,000. Winch Advisory Services LLC acquired a new position in shares of Rio Tinto Group during the 3rd quarter worth about $26,000. FSC Wealth Advisors LLC acquired a new position in shares of Rio Tinto Group during the 3rd quarter worth about $28,000. Sound Income Strategies LLC increased its holdings 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 acquiring an additional 173 shares during the last quarter. Finally, Centerpoint Advisors LLC raised 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 worth $35,000 after acquiring an additional 275 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

About Rio Tinto Group

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.