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

Rio Tinto Group (NYSE:RIO) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Several other research analysts have also weighed in on RIO. DZ Bank upgraded Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. Jefferies Financial Group reduced their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley cut shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Finally, Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Four research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $56.83 on Friday. 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 stock has a market cap of $71.26 billion, a P/E ratio of 8.81, a PEG ratio of 0.42 and a beta of 0.66. The company has a 50-day moving average price of $60.99 and a 200 day moving average price of $62.25. Rio Tinto Group has a 12-month low of $51.67 and a 12-month high of $74.24.

Institutional Investors Weigh In On Rio Tinto Group

Several large investors have recently bought and sold shares of the stock. Rakuten Securities Inc. increased its stake in shares of Rio Tinto Group by 74.8% during the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after buying an additional 211 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Mechanics Financial Corp acquired a new stake in shares of Rio Tinto Group in the 4th quarter valued at $29,000. Ameriflex Group Inc. purchased a new stake in shares of Rio Tinto Group during the 4th quarter worth $47,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Rio Tinto Group during the fourth quarter worth $47,000. Hedge funds and other institutional investors 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.