Rio Tinto Group (NYSE:RIO) Hits New 52-Week Low – What’s Next?

Rio Tinto Group (NYSE:RIO)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $59.27 and last traded at $59.33, with a volume of 2658848 shares changing hands. The stock had previously closed at $61.46.

Analysts Set New Price Targets

A number of brokerages have commented on RIO. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Rio Tinto Group Trading Down 0.2 %

The company has a fifty day simple moving average of $63.73 and a two-hundred day simple moving average of $64.73. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Armstrong Advisory Group Inc. grew its holdings in Rio Tinto Group by 9.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock valued at $129,000 after buying an additional 159 shares during the period. Sound Income Strategies LLC boosted its position in shares of Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after buying an additional 173 shares during the period. Concurrent Investment Advisors LLC grew its position in Rio Tinto Group by 4.3% in the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock valued at $303,000 after acquiring an additional 175 shares in the last quarter. Fiduciary Financial Group LLC boosted its position in Rio Tinto Group by 3.7% in the 3rd quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock valued at $330,000 after buying an additional 178 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its holdings in Rio Tinto Group by 1.2% in the second quarter. Evergreen Capital Management LLC now owns 15,515 shares of the mining company’s stock valued at $1,023,000 after purchasing an additional 179 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

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.