Rio Tinto Group (NYSE:RIO) Shares Gap Up to $60.81

Shares of Rio Tinto Group (NYSE:RIOGet Rating) gapped up before the market opened on Friday . The stock had previously closed at $60.81, but opened at $63.93. Rio Tinto Group shares last traded at $64.98, with a volume of 108,302 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut their price target on Rio Tinto Group from GBX 5,800 ($66.78) to GBX 5,700 ($65.63) in a report on Wednesday, October 5th. StockNews.com began coverage on Rio Tinto Group in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. JPMorgan Chase & Co. cut their target price on Rio Tinto Group from GBX 5,580 ($64.25) to GBX 5,450 ($62.75) in a research note on Friday, October 14th. Barclays cut their target price on Rio Tinto Group from GBX 4,500 ($51.81) to GBX 4,300 ($49.51) in a research note on Friday, October 21st. Finally, Macquarie lowered Rio Tinto Group from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 23rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4,340.00.

Rio Tinto Group Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.34 and a current ratio of 1.79. The firm has a 50 day simple moving average of $55.76 and a 200-day simple moving average of $61.07.

Institutional Trading of Rio Tinto Group

Several large investors have recently made changes to their positions in RIO. Professional Financial Advisors LLC bought a new stake in shares of Rio Tinto Group during the first quarter worth $26,000. Castle Wealth Management LLC bought a new stake in shares of Rio Tinto Group during the second quarter worth $26,000. Cowa LLC bought a new position in Rio Tinto Group in the first quarter valued at about $26,000. Tortoise Investment Management LLC bought a new position in Rio Tinto Group in the second quarter valued at about $27,000. Finally, Twin Lakes Capital Management LLC bought a new position in Rio Tinto Group during the third quarter worth about $28,000. Institutional investors own 10.05% of the company’s stock.

Rio Tinto Group Company Profile

(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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