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

Rio Tinto Group (NYSE:RIOGet Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Several other equities analysts also recently commented on the stock. Liberum Capital downgraded shares of Rio Tinto Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. The Goldman Sachs Group raised shares of Rio Tinto Group from a “neutral” rating to a “buy” rating in a research report on Monday, April 11th. Barclays cut shares of Rio Tinto Group from an “equal weight” rating to an “underweight” rating in a report on Tuesday, April 26th. Jefferies Financial Group increased their price target on shares of Rio Tinto Group from $65.00 to $70.00 in a report on Thursday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Rio Tinto Group from GBX 5,900 ($72.74) to GBX 6,100 ($75.21) in a research report on Tuesday, April 5th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2,545.77.

Shares of RIO stock traded down $1.00 during trading on Thursday, hitting $64.42. 4,943,772 shares of the stock traded hands, compared to its average volume of 4,637,907. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average price is $75.46 and its 200-day moving average price is $71.48. Rio Tinto Group has a 52-week low of $59.58 and a 52-week high of $91.49.

A number of institutional investors have recently made changes to their positions in RIO. Renaissance Technologies LLC raised its holdings in Rio Tinto Group by 51.2% during the 3rd quarter. Renaissance Technologies LLC now owns 235,800 shares of the mining company’s stock worth $15,756,000 after purchasing an additional 79,800 shares during the last quarter. Fieldpoint Private Securities LLC boosted its holdings in Rio Tinto Group by 41.2% during the 4th quarter. Fieldpoint Private Securities LLC now owns 14,555 shares of the mining company’s stock worth $974,000 after acquiring an additional 4,244 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Rio Tinto Group by 34.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,815 shares of the mining company’s stock worth $523,000 after acquiring an additional 1,985 shares during the last quarter. Bluestein R H & Co. raised its stake in shares of Rio Tinto Group by 20.0% during the 3rd quarter. Bluestein R H & Co. now owns 12,000 shares of the mining company’s stock worth $802,000 after purchasing an additional 2,000 shares during the period. Finally, Moors & Cabot Inc. raised its stake in shares of Rio Tinto Group by 38.3% during the 3rd quarter. Moors & Cabot Inc. now owns 25,369 shares of the mining company’s stock worth $1,694,000 after purchasing an additional 7,022 shares during the period. Hedge funds and other institutional investors own 10.84% of the company’s stock.

About Rio Tinto Group (Get Rating)

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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