Rio Tinto Group (NYSE:RIO) Stock Rating Upgraded by 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 note issued to investors on Sunday.

Other equities research analysts have also issued reports about the stock. DZ Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Jefferies Financial Group decreased their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Morgan Stanley cut shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. began coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They issued an “overweight” rating on the stock. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $73.00.

Rio Tinto Group Trading Up 1.7 %

Shares of Rio Tinto Group stock opened at $58.15 on Friday. The company has a 50 day simple moving average of $60.55 and a two-hundred day simple moving average of $61.84. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The firm has a market cap of $72.91 billion, a PE ratio of 9.02, a PEG ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a 1 year low of $51.67 and a 1 year high of $74.24.

Institutional Investors Weigh In On Rio Tinto Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RIO. Fisher Asset Management LLC increased its stake in shares of Rio Tinto Group by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company’s stock worth $1,035,319,000 after acquiring an additional 76,368 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Rio Tinto Group by 1.4% in the 4th quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company’s stock worth $300,841,000 after purchasing an additional 70,131 shares during the last quarter. FMR LLC increased its stake in Rio Tinto Group by 24.6% during the 4th quarter. FMR LLC now owns 1,721,690 shares of the mining company’s stock valued at $101,253,000 after purchasing an additional 339,924 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Rio Tinto Group by 18.9% during the fourth quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company’s stock valued at $94,275,000 after buying an additional 255,151 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in Rio Tinto Group by 143,872.8% in the 4th quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock worth $74,341,000 after acquiring an additional 1,263,203 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other 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.