Rio Tinto Group (NYSE:RIO) Lifted to “Strong-Buy” at 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 note issued to investors on Thursday.

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

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at $66.98 on Thursday. The company’s fifty day moving average price is $64.87 and its two-hundred day moving average price is $67.05. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17.

Hedge Funds Weigh In On Rio Tinto Group

Several institutional investors have recently bought and sold shares of RIO. Meritage Portfolio Management grew its holdings 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 worth $3,142,000 after purchasing an additional 147 shares during the last quarter. Dana Investment Advisors Inc. grew its holdings in Rio Tinto Group by 0.5% during the 3rd quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock worth $1,876,000 after acquiring an additional 150 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Rio Tinto Group by 8.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock valued at $143,000 after acquiring an additional 150 shares in the last quarter. Ambassador Advisors LLC raised its stake in shares of 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 acquiring an additional 153 shares during the last quarter. Finally, Optas LLC lifted its position in shares of Rio Tinto Group by 4.2% during the first quarter. Optas LLC now owns 3,833 shares of the mining company’s stock worth $244,000 after purchasing an additional 154 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

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.