Rio Tinto Group (NYSE:RIO) Upgraded to Strong-Buy by StockNews.com

Rio Tinto Group (NYSE:RIO) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.

Several other analysts have also issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating for the company. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Rio Tinto Group Price Performance

NYSE RIO opened at $66.78 on Thursday. The company has a 50-day simple moving average of $64.92 and a two-hundred day simple moving average of $67.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09.

Hedge Funds Weigh In On Rio Tinto Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Meritage Portfolio Management raised its stake in shares of Rio Tinto Group by 0.3% during the fourth quarter. Meritage Portfolio Management now owns 42,192 shares of the mining company’s stock valued at $3,142,000 after acquiring an additional 147 shares during the last quarter. Dana Investment Advisors Inc. raised its stake in Rio Tinto Group by 0.5% in the third quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock worth $1,876,000 after buying an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Rio Tinto Group by 8.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock worth $143,000 after buying an additional 150 shares in the last quarter. Ambassador Advisors LLC raised its stake in Rio Tinto Group by 3.6% in the fourth quarter. Ambassador Advisors LLC now owns 4,398 shares of the mining company’s stock worth $313,000 after buying an additional 153 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Rio Tinto Group by 39.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after buying an additional 156 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

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.