Rio Tinto Group (NYSE:RIO) Shares Gap Up After Analyst Upgrade

Shares of Rio Tinto Group (NYSE:RIOGet Rating) gapped up prior to trading on Tuesday after Morgan Stanley raised their price target on the stock from GBX 5,750 to GBX 5,790. The stock had previously closed at $78.76, but opened at $87.00. Rio Tinto Group shares last traded at $77.54, with a volume of 270,726 shares.

RIO has been the topic of several other research reports. Barclays upgraded Rio Tinto Group from an “underweight” rating to an “equal weight” rating in a report on Thursday, January 12th. Citigroup lowered Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Thursday, December 1st. JPMorgan Chase & Co. increased their target price on Rio Tinto Group from GBX 5,310 ($65.74) to GBX 5,380 ($66.61) in a research note on Wednesday, January 18th. Berenberg Bank upgraded Rio Tinto Group from a “sell” rating to a “buy” rating in a research note on Thursday, January 12th. Finally, CLSA lowered Rio Tinto Group from an “outperform” rating to an “underperform” rating in a research note on Tuesday, January 17th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4,360.00.

Institutional Investors Weigh In On Rio Tinto Group

Institutional investors have recently added to or reduced their stakes in the business. Castle Wealth Management LLC acquired a new stake in Rio Tinto Group in the second quarter worth about $26,000. Cowa LLC acquired a new stake in Rio Tinto Group in the first quarter worth about $26,000. Tortoise Investment Management LLC acquired a new stake in Rio Tinto Group in the second quarter worth about $27,000. Twin Lakes Capital Management LLC acquired a new stake in Rio Tinto Group in the third quarter worth about $28,000. Finally, Larson Financial Group LLC acquired a new stake in Rio Tinto Group in the second quarter worth about $33,000. Institutional investors and hedge funds own 10.43% of the company’s stock.

Rio Tinto Group Price Performance

The company has a quick ratio of 1.34, a current ratio of 1.79 and a debt-to-equity ratio of 0.21. The firm has a fifty day simple moving average of $71.18 and a two-hundred day simple moving average of $62.16.

About Rio Tinto Group

(Get Rating)

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

Further Reading

Receive News & Ratings for Rio Tinto Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto Group and related companies with MarketBeat.com's FREE daily email newsletter.