Rio Tinto Group (NYSE:RIO – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company.
RIO has been the subject of a number of recent research reports. HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. Berenberg Bank cut shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Finally, Citigroup cut shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th.
Read Our Latest Research Report on Rio Tinto Group
Rio Tinto Group Stock Performance
Institutional Trading of Rio Tinto Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc increased its holdings in shares of Rio Tinto Group by 785.7% in 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 during the period. Northwest Investment Counselors LLC acquired a new position in shares of Rio Tinto Group in the 1st quarter valued at $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 period. YHB Investment Advisors Inc. acquired a new position in shares of Rio Tinto Group in the 1st quarter valued at $29,000. Finally, Accordant Advisory Group Inc acquired a new position in shares of Rio Tinto Group in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 19.33% of the company’s stock.
Rio Tinto Group Company Profile
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.
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