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

Rio Tinto Group (NYSE:RIO) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

Several other research firms also recently weighed in on RIO. The Goldman Sachs Group assumed coverage on Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating on the stock. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Rio Tinto Group Stock Up 0.4 %

Rio Tinto Group stock opened at $66.98 on Thursday. The firm’s 50-day moving average is $64.87 and its two-hundred day moving average is $67.05. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09.

Hedge Funds Weigh In On Rio Tinto Group

Several hedge funds and other institutional investors have recently made changes to their positions in RIO. Schechter Investment Advisors LLC lifted its stake in shares of Rio Tinto Group by 10.9% during the third quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock worth $556,000 after purchasing an additional 858 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Rio Tinto Group during the fourth quarter worth $7,954,000. Sei Investments Co. boosted its stake in shares of Rio Tinto Group by 18.3% in the third quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock valued at $45,926,000 after purchasing an additional 111,623 shares during the period. Morgan Stanley grew its holdings in Rio Tinto Group by 2.7% during the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock valued at $284,111,000 after purchasing an additional 118,706 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC increased its stake in Rio Tinto Group by 88.2% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock worth $612,000 after buying an additional 3,852 shares during the period. Institutional investors and hedge funds 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.