Rio Tinto Group (NYSE:RIO) Price Target Increased to GBX 5,790 by Analysts at Morgan Stanley

Rio Tinto Group (NYSE:RIOGet Rating) had its target price hoisted by Morgan Stanley from GBX 5,750 ($71.19) to GBX 5,790 ($71.69) in a research report released on Monday, The Fly reports.

A number of other equities analysts also recently commented on RIO. Barclays raised shares of Rio Tinto Group from an underweight rating to an equal weight rating in a report on Thursday, January 12th. UBS Group downgraded shares of Rio Tinto Group from a neutral rating to a sell rating in a report on Tuesday, December 13th. CLSA downgraded shares of Rio Tinto Group from an outperform rating to an underperform rating in a report on Tuesday, January 17th. Citigroup downgraded shares of Rio Tinto Group from a buy rating to a neutral rating in a report on Thursday, December 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Rio Tinto Group from GBX 5,800 ($71.81) to GBX 6,200 ($76.76) in a report on Tuesday, January 10th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Rio Tinto Group has a consensus rating of Hold and a consensus price target of $4,360.00.

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at $78.76 on Monday. The company has a market cap of $98.40 billion, a PE ratio of 11.65 and a beta of 0.64. The company has a fifty day moving average price of $70.91 and a two-hundred day moving average price of $62.02. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.79 and a quick ratio of 1.34. Rio Tinto Group has a 12 month low of $50.92 and a 12 month high of $84.69.

Institutional Investors Weigh In On Rio Tinto Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its position in Rio Tinto Group by 58.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,899,694 shares of the mining company’s stock worth $1,037,135,000 after acquiring an additional 4,783,488 shares in the last quarter. Capital World Investors raised its position in Rio Tinto Group by 4.2% in the first quarter. Capital World Investors now owns 8,484,992 shares of the mining company’s stock worth $682,195,000 after acquiring an additional 344,145 shares in the last quarter. Franklin Resources Inc. raised its position in Rio Tinto Group by 203.8% in the second quarter. Franklin Resources Inc. now owns 6,188,218 shares of the mining company’s stock worth $377,482,000 after acquiring an additional 4,151,342 shares in the last quarter. Wellington Management Group LLP raised its position in Rio Tinto Group by 26.9% in the first quarter. Wellington Management Group LLP now owns 5,475,787 shares of the mining company’s stock worth $440,253,000 after acquiring an additional 1,161,737 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its position in Rio Tinto Group by 11.2% in the third quarter. Neuberger Berman Group LLC now owns 5,460,303 shares of the mining company’s stock worth $300,654,000 after acquiring an additional 551,359 shares in the last quarter. 10.43% of the stock is currently owned by institutional investors.

About Rio Tinto Group

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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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