Rio Tinto Group (NYSE:RIO) Downgraded to “Hold” at Berenberg Bank

Rio Tinto Group (NYSE:RIOGet Rating) was downgraded by research analysts at Berenberg Bank from a “buy” rating to a “hold” rating in a research note issued on Thursday, The Fly reports.

A number of other brokerages also recently commented on RIO. Liberum Capital raised shares of Rio Tinto Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 29th. Citigroup raised shares of Rio Tinto Group from a “neutral” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada boosted their price objective on shares of Rio Tinto Group from GBX 5,300 ($68.96) to GBX 5,600 ($72.86) in a research report on Tuesday. Zacks Investment Research downgraded shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 10th. Finally, Jefferies Financial Group boosted their target price on shares of Rio Tinto Group from $65.00 to $70.00 in a research report on Thursday, February 3rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $2,420.06.

RIO stock opened at $78.58 on Thursday. Rio Tinto Group has a 52-week low of $59.58 and a 52-week high of $95.97. The company’s 50 day simple moving average is $78.42 and its 200-day simple moving average is $71.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.50 and a current ratio of 1.93.

A number of large investors have recently added to or reduced their stakes in the stock. Glassman Wealth Services raised its stake in Rio Tinto Group by 25.9% during the 1st quarter. Glassman Wealth Services now owns 612 shares of the mining company’s stock valued at $49,000 after purchasing an additional 126 shares during the last quarter. Private Capital Group LLC raised its stake in Rio Tinto Group by 14.9% during the 1st quarter. Private Capital Group LLC now owns 1,092 shares of the mining company’s stock valued at $94,000 after purchasing an additional 142 shares during the last quarter. Lester Murray Antman dba SimplyRich raised its stake in Rio Tinto Group by 4.6% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 3,308 shares of the mining company’s stock valued at $221,000 after purchasing an additional 146 shares during the last quarter. Huntington National Bank raised its stake in Rio Tinto Group by 8.8% during the 4th quarter. Huntington National Bank now owns 1,813 shares of the mining company’s stock valued at $121,000 after purchasing an additional 146 shares during the last quarter. Finally, Financial Counselors Inc. raised its stake in Rio Tinto Group by 2.8% during the 4th quarter. Financial Counselors Inc. now owns 5,526 shares of the mining company’s stock valued at $370,000 after purchasing an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 10.06% of the company’s stock.

About Rio Tinto Group (Get Rating)

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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