Rio Tinto Group (NYSE:RIO) Given “Neutral” Rating at DZ Bank


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DZ Bank restated their neutral rating on shares of Rio Tinto Group (NYSE:RIO) in a research report released on Wednesday morning, Analyst Ratings Network reports.

Several other equities research analysts also recently weighed in on the stock. BidaskClub upgraded shares of Rio Tinto Group from a buy rating to a strong-buy rating in a report on Saturday, January 9th. Credit Suisse Group raised shares of Rio Tinto Group from an underperform rating to a neutral rating in a research note on Wednesday, September 30th. BMO Capital Markets initiated coverage on shares of Rio Tinto Group in a research note on Monday, January 4th. They issued an outperform rating for the company. Barclays restated an equal weight rating on shares of Rio Tinto Group in a research report on Tuesday, November 24th. Finally, Morgan Stanley reaffirmed an equal weight rating on shares of Rio Tinto Group in a report on Thursday, December 10th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Rio Tinto Group currently has a consensus rating of Hold and an average target price of $70.00.

Rio Tinto Group stock opened at $81.76 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.61 and a debt-to-equity ratio of 0.31. Rio Tinto Group has a 52-week low of $35.35 and a 52-week high of $86.90. The firm’s fifty day moving average is $75.27 and its 200 day moving average is $64.47. The company has a market cap of $102.04 billion, a price-to-earnings ratio of 12.92 and a beta of 0.64.

Institutional investors have recently added to or reduced their stakes in the company. Raymond James Trust N.A. lifted its stake in shares of Rio Tinto Group by 60.8% in the fourth quarter. Raymond James Trust N.A. now owns 6,668 shares of the mining company’s stock worth $502,000 after buying an additional 2,522 shares in the last quarter. OneAscent Financial Services LLC lifted its stake in Rio Tinto Group by 12.4% in the 4th quarter. OneAscent Financial Services LLC now owns 3,826 shares of the mining company’s stock worth $288,000 after purchasing an additional 422 shares in the last quarter. XR Securities LLC acquired a new position in shares of Rio Tinto Group during the 4th quarter worth approximately $450,000. Hohimer Wealth Management LLC grew its position in shares of Rio Tinto Group by 6.8% in the fourth quarter. Hohimer Wealth Management LLC now owns 4,296 shares of the mining company’s stock valued at $323,000 after purchasing an additional 273 shares in the last quarter. Finally, Fulton Bank N.A. increased its holdings in shares of Rio Tinto Group by 15.7% in the fourth quarter. Fulton Bank N.A. now owns 9,952 shares of the mining company’s stock valued at $748,000 after purchasing an additional 1,347 shares during the last quarter. 7.73% of the stock is owned by institutional investors and hedge funds.

About Rio Tinto Group

Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminum, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminum smelting; bauxite mining; alumina refining; and ilmenite, rutile, and zircon mining, as well as provision of gypsum.

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Analyst Recommendations for Rio Tinto Group (NYSE:RIO)

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