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

Rio Tinto Group (NYSE:RIOGet Free Report) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Friday.

Several other equities analysts have also issued reports on RIO. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group decreased their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

View Our Latest Analysis on RIO

Rio Tinto Group Trading Up 2.0 %

RIO opened at $61.00 on Friday. The stock has a 50-day moving average price of $60.98 and a 200-day moving average price of $63.57. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24.

Institutional Investors Weigh In On Rio Tinto Group

A number of large investors have recently made changes to their positions in the company. Fisher Asset Management LLC grew its stake in shares of Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after purchasing an additional 485,731 shares during the period. Bank of Montreal Can lifted its holdings in Rio Tinto Group by 237.0% in the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after purchasing an additional 1,738,752 shares in the last quarter. FMR LLC lifted its holdings in Rio Tinto Group by 35.1% in the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock worth $98,340,000 after purchasing an additional 358,630 shares in the last quarter. Palliser Capital UK Ltd lifted its holdings in Rio Tinto Group by 213.8% in the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after purchasing an additional 674,117 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in Rio Tinto Group by 9.8% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company’s stock worth $66,341,000 after purchasing an additional 83,569 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

About Rio Tinto Group

(Get Free Report)

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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Analyst Recommendations for Rio Tinto Group (NYSE:RIO)

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