Rio Tinto Group (NYSE:RIO) Upgraded to Strong-Buy at StockNews.com

Rio Tinto Group (NYSE:RIO) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Monday.

Several other research firms have also recently commented on RIO. The Goldman Sachs Group began coverage on Rio Tinto Group in a research note on Friday, January 12th. They set a “buy” rating for the company. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Rio Tinto Group Trading Down 1.7 %

NYSE:RIO opened at $67.83 on Monday. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09. The business’s 50-day simple moving average is $64.90 and its 200 day simple moving average is $67.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The stock has a market cap of $84.96 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 3.12 and a beta of 0.70.

Hedge Funds Weigh In On Rio Tinto Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Meritage Portfolio Management raised its position in shares of Rio Tinto Group by 0.3% during the 4th quarter. Meritage Portfolio Management now owns 42,192 shares of the mining company’s stock worth $3,142,000 after purchasing an additional 147 shares during the period. Dana Investment Advisors Inc. lifted its stake in Rio Tinto Group by 0.5% in the third quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock valued at $1,876,000 after buying an additional 150 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Rio Tinto Group by 8.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock valued at $143,000 after acquiring an additional 150 shares during the period. Optas LLC grew its position in shares of Rio Tinto Group by 4.2% during the first quarter. Optas LLC now owns 3,833 shares of the mining company’s stock worth $244,000 after acquiring an additional 154 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Rio Tinto Group by 39.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after acquiring an additional 156 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

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.