Rio Tinto Group (NYSE:RIO) Earns Hold Rating from Jefferies Financial Group

Rio Tinto Group (NYSE:RIO)‘s stock had its “hold” rating reaffirmed by equities research analysts at Jefferies Financial Group in a research report issued on Tuesday, MarketBeat reports.

A number of other equities research analysts have also recently commented on RIO. Morgan Stanley cut shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, April 9th. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Barclays restated an “overweight” rating on shares of Rio Tinto Group in a research report on Wednesday, April 16th. DZ Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. Finally, Wall Street Zen downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Trading Down 0.5%

NYSE:RIO opened at $58.55 on Tuesday. The company’s 50 day moving average price is $59.22 and its 200-day moving average price is $60.75. Rio Tinto Group has a 52 week low of $51.67 and a 52 week high of $72.08. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The stock has a market cap of $73.42 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 0.42 and a beta of 0.73.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RIO. Rakuten Securities Inc. raised its position in Rio Tinto Group by 74.8% in the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after acquiring an additional 211 shares during the period. Mechanics Financial Corp bought a new position in Rio Tinto Group in the fourth quarter worth approximately $29,000. Alpine Bank Wealth Management bought a new position in Rio Tinto Group in the first quarter worth approximately $30,000. Wayfinding Financial LLC bought a new position in Rio Tinto Group in the first quarter worth approximately $30,000. Finally, Pandora Wealth Inc. bought a new position in Rio Tinto Group in the first quarter worth approximately $30,000. 19.33% of the stock is currently owned by institutional investors.

About Rio Tinto Group

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.