Rio Tinto Group (NYSE:RIO) Rating Lowered to Buy at StockNews.com

StockNews.com lowered shares of Rio Tinto Group (NYSE:RIO) from a strong-buy rating to a buy rating in a report issued on Tuesday morning.

A number of other analysts have also commented on the company. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Up 0.9 %

Shares of Rio Tinto Group stock opened at $60.98 on Tuesday. The business has a 50 day moving average price of $65.44 and a 200 day moving average price of $66.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09.

Hedge Funds Weigh In On Rio Tinto Group

Hedge funds have recently made changes to their positions in the stock. GHP Investment Advisors Inc. acquired a new position in Rio Tinto Group in the second quarter valued at $26,000. Winch Advisory Services LLC acquired a new position in shares of Rio Tinto Group in the 3rd quarter valued at about $26,000. FSC Wealth Advisors LLC purchased a new stake in shares of Rio Tinto Group during the 3rd quarter worth about $28,000. Sound Income Strategies LLC increased its position in Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after purchasing an additional 173 shares in the last quarter. Finally, Centerpoint Advisors LLC raised its holdings in Rio Tinto Group by 110.0% in the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after buying an additional 275 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

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.