Rio Tinto Group (NYSE:RIO) Hits New 1-Year Low – Should You Sell?

Rio Tinto Group (NYSE:RIO) hit a new 52-week low on Wednesday . The company traded as low as $59.27 and last traded at $59.33, with a volume of 2658848 shares changing hands. The stock had previously closed at $61.46.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RIO shares. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Rio Tinto Group currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Price Performance

The firm’s fifty day moving average is $63.73 and its two-hundred day moving average is $64.73. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Institutional Investors Weigh In On Rio Tinto Group

Several hedge funds have recently modified their holdings of RIO. Armstrong Advisory Group Inc. lifted its stake in Rio Tinto Group by 9.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock valued at $129,000 after buying an additional 159 shares in the last quarter. Sound Income Strategies LLC increased its position in Rio Tinto Group by 70.9% in 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 during the last quarter. Concurrent Investment Advisors LLC increased its holdings in Rio Tinto Group by 4.3% in the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock worth $303,000 after buying an additional 175 shares during the last quarter. Fiduciary Financial Group LLC lifted its stake in shares of Rio Tinto Group by 3.7% in the 3rd quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock valued at $330,000 after purchasing an additional 178 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its holdings in Rio Tinto Group by 1.2% in the 2nd quarter. Evergreen Capital Management LLC now owns 15,515 shares of the mining company’s stock worth $1,023,000 after purchasing an additional 179 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other 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.