Rio Tinto Group (NYSE:RIO) Rating Increased to Buy at Jefferies Financial Group

Rio Tinto Group (NYSE:RIOGet Rating) was upgraded by research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports.

A number of other equities research analysts have also recently issued reports on RIO. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 12th. JPMorgan Chase & Co. lowered their price objective on Rio Tinto Group from GBX 5,780 ($72.43) to GBX 5,730 ($71.80) in a research note on Thursday, April 21st. Liberum Capital cut Rio Tinto Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. HSBC assumed coverage on Rio Tinto Group in a research note on Friday, March 18th. They issued a “hold” rating on the stock. Finally, Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, April 21st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2,531.49.

NYSE RIO opened at $78.40 on Tuesday. Rio Tinto Group has a one year low of $59.58 and a one year high of $89.51. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.23. The business’s fifty day moving average is $73.93 and its 200-day moving average is $72.75.

Hedge funds and other institutional investors have recently modified their holdings of the company. Glassman Wealth Services lifted its position in Rio Tinto Group by 25.9% in the first 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 lifted its position in Rio Tinto Group by 14.9% in the first 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 lifted its position in Rio Tinto Group by 4.6% in the fourth 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 holdings in shares of Rio Tinto Group by 8.8% during the fourth quarter. Huntington National Bank now owns 1,813 shares of the mining company’s stock valued at $121,000 after acquiring an additional 146 shares in the last quarter. Finally, Financial Counselors Inc. raised its holdings in shares of Rio Tinto Group by 2.8% during the fourth quarter. Financial Counselors Inc. now owns 5,526 shares of the mining company’s stock valued at $370,000 after acquiring an additional 148 shares in the last quarter. 10.84% of the stock is owned by institutional investors.

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 lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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Analyst Recommendations for Rio Tinto Group (NYSE:RIO)

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