Rio Tinto Group (NYSE:RIO) Sees Unusually-High Trading Volume

Rio Tinto Group (NYSE:RIO – Get Rating) shares saw strong trading volume on Tuesday . 94,217 shares changed hands during trading, a decline of 97% from the previous session’s volume of 3,333,342 shares.The stock last traded at $56.59 and had previously closed at $59.83.

A number of analysts have recently commented on the company. Royal Bank of Canada lifted their price target on Rio Tinto Group from GBX 5,300 ($64.18) to GBX 5,600 ($67.81) in a research note on Tuesday, April 19th. Berenberg Bank lowered Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, April 21st. JPMorgan Chase & Co. cut their price target on Rio Tinto Group from GBX 5,780 ($69.99) to GBX 5,730 ($69.39) in a research note on Thursday, April 21st. Morgan Stanley lowered Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 22nd. Finally, Barclays lowered Rio Tinto Group from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, April 26th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2,905.07.

The stock has a fifty day simple moving average of $68.61 and a two-hundred day simple moving average of $73.09. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.23.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RIO. Professional Financial Advisors LLC bought a new stake in shares of Rio Tinto Group during the first quarter valued at approximately $26,000. Cowa LLC bought a new stake in shares of Rio Tinto Group during the first quarter valued at approximately $26,000. Key Financial Inc bought a new stake in shares of Rio Tinto Group during the fourth quarter valued at approximately $28,000. AdvisorNet Financial Inc increased its holdings in shares of Rio Tinto Group by 171.3% during the first quarter. AdvisorNet Financial Inc now owns 369 shares of the mining company’s stock valued at $30,000 after acquiring an additional 233 shares in the last quarter. Finally, Pacifica Partners Inc. bought a new stake in shares of Rio Tinto Group during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 10.84% of the company’s stock.

Rio Tinto Group Company Profile (NYSE:RIO)

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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