Rio Tinto Group’s (RIO) Hold Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group reiterated their hold rating on shares of Rio Tinto Group (NYSE:RIO) in a report released on Tuesday, MarketBeat Ratings reports.

RIO has been the subject of a number of other reports. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating for the company. Morgan Stanley cut shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, April 9th. DZ Bank raised shares of Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Finally, Wall Street Zen cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Monday, April 28th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Performance

NYSE RIO opened at $58.87 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. Rio Tinto Group has a 1 year low of $51.67 and a 1 year high of $72.08. The company has a market capitalization of $73.83 billion, a PE ratio of 9.13, a P/E/G ratio of 0.42 and a beta of 0.73. The company has a fifty day moving average of $59.27 and a two-hundred day moving average of $60.77.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Ellsworth Advisors LLC raised its holdings in Rio Tinto Group by 22.9% during the first quarter. Ellsworth Advisors LLC now owns 13,696 shares of the mining company’s stock worth $823,000 after purchasing an additional 2,553 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Rio Tinto Group by 37.9% during the first quarter. Acadian Asset Management LLC now owns 57,595 shares of the mining company’s stock worth $3,458,000 after purchasing an additional 15,839 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Rio Tinto Group by 68.1% during the first quarter. Geneos Wealth Management Inc. now owns 1,427 shares of the mining company’s stock worth $86,000 after purchasing an additional 578 shares in the last quarter. Focus Partners Wealth raised its holdings in Rio Tinto Group by 16.7% during the first quarter. Focus Partners Wealth now owns 15,985 shares of the mining company’s stock worth $962,000 after purchasing an additional 2,285 shares in the last quarter. Finally, McIlrath & Eck LLC raised its holdings in Rio Tinto Group by 88.2% during the first quarter. McIlrath & Eck LLC now owns 2,492 shares of the mining company’s stock worth $150,000 after purchasing an additional 1,168 shares in 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.