Rio Tinto Group (NYSE:RIO) Hits New 1-Year Low – Here’s What Happened

Rio Tinto Group (NYSE:RIO) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $58.19 and last traded at $58.37, with a volume of 560408 shares. The stock had previously closed at $58.77.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RIO. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, Berenberg Bank upgraded 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 issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Down 0.3 %

The firm has a market cap of $73.42 billion, a price-to-earnings ratio of 8.51, a PEG ratio of 0.38 and a beta of 0.65. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The firm has a fifty day moving average price of $62.24 and a 200-day moving average price of $64.06.

Institutional Trading of Rio Tinto Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in shares of Rio Tinto Group by 12.2% during the 4th quarter. GAMMA Investing LLC now owns 1,861 shares of the mining company’s stock worth $109,000 after buying an additional 203 shares during the last quarter. SPX Gestao de Recursos Ltda grew its position in Rio Tinto Group by 1,773.2% during the third quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after acquiring an additional 404,131 shares during the period. DGS Capital Management LLC increased its stake in Rio Tinto Group by 22.2% during the third quarter. DGS Capital Management LLC now owns 16,797 shares of the mining company’s stock worth $1,195,000 after acquiring an additional 3,057 shares during the last quarter. Tidal Investments LLC increased its stake in Rio Tinto Group by 16.2% during the third quarter. Tidal Investments LLC now owns 122,623 shares of the mining company’s stock worth $8,727,000 after acquiring an additional 17,052 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Rio Tinto Group in the 3rd quarter worth about $218,000. 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.