Rio Tinto Group (NYSE:RIO) Upgraded at StockNews.com

Rio Tinto Group (NYSE:RIO) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Monday.

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

Rio Tinto Group Stock Up 1.1 %

Shares of RIO traded up $0.78 on Monday, reaching $69.02. The company’s stock had a trading volume of 2,466,151 shares, compared to its average volume of 2,976,134. The stock’s 50 day simple moving average is $64.86 and its two-hundred day simple moving average is $67.38. 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.

Institutional Trading of Rio Tinto Group

Institutional investors and hedge funds have recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in Rio Tinto Group in the 1st quarter worth $26,000. AdvisorNet Financial Inc boosted its stake in shares of Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after acquiring an additional 330 shares during the period. YHB Investment Advisors Inc. purchased a new stake in shares of Rio Tinto Group during the first quarter worth about $29,000. Accordant Advisory Group Inc purchased a new stake in shares of Rio Tinto Group during the first quarter worth about $31,000. Finally, SouthState Corp bought a new stake in Rio Tinto Group during the 3rd quarter valued at approximately $32,000. 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.