Rio Tinto Group (NYSE:RIO) Upgraded at StockNews.com

StockNews.com upgraded shares of Rio Tinto Group (NYSE:RIO) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday morning.

Several other research firms also recently issued reports on RIO. Liberum Capital reaffirmed a hold rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Citigroup cut Rio Tinto Group from a buy rating to a neutral rating in a research note on Monday. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $72.00.

Rio Tinto Group Stock Performance

Shares of NYSE:RIO opened at $71.42 on Tuesday. The company has a 50 day moving average of $67.08 and a two-hundred day moving average of $68.20. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23.

Institutional Investors Weigh In On Rio Tinto Group

A number of institutional investors have recently modified their holdings of the stock. Northwest Investment Counselors LLC bought a new stake in Rio Tinto Group in the first quarter valued at about $26,000. Geneos Wealth Management Inc. increased its holdings in shares of Rio Tinto Group by 55.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after acquiring an additional 148 shares during the last quarter. AdvisorNet Financial Inc raised its position in shares of Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after acquiring an additional 330 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in Rio Tinto Group during the first quarter worth $29,000. Finally, Accordant Advisory Group Inc acquired a new position in Rio Tinto Group in the first quarter worth $31,000. 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.