Morgan Stanley upgraded shares of Rio Tinto Group (NYSE:RIO – Get Rating) from an equal weight rating to an overweight rating in a report published on Friday, The Fly reports.
Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. raised shares of Rio Tinto Group from an underweight rating to a neutral rating in a research note on Monday, May 15th. BNP Paribas lowered shares of Rio Tinto Group from an outperform rating to a neutral rating in a research note on Monday, February 13th. Sanford C. Bernstein raised shares of Rio Tinto Group from a market perform rating to an outperform rating in a research note on Friday, May 5th. StockNews.com initiated coverage on shares of Rio Tinto Group in a report on Thursday, May 18th. They issued a buy rating for the company. Finally, The Goldman Sachs Group upgraded shares of Rio Tinto Group from a buy rating to a conviction-buy rating in a report on Thursday, March 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $5,790.00.
Rio Tinto Group Price Performance
Shares of Rio Tinto Group stock opened at $59.39 on Friday. Rio Tinto Group has a twelve month low of $50.92 and a twelve month high of $80.51. The firm’s 50-day moving average price is $64.86 and its 200 day moving average price is $69.07. The company has a quick ratio of 1.10, a current ratio of 1.64 and a debt-to-equity ratio of 0.21.
Rio Tinto Group Cuts Dividend
Hedge Funds Weigh In On Rio Tinto Group
Several large investors have recently modified their holdings of the business. Strengthening Families & Communities LLC raised its holdings in Rio Tinto Group by 350.0% in the 1st quarter. Strengthening Families & Communities LLC now owns 225 shares of the mining company’s stock valued at $3,442,000 after buying an additional 175 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Rio Tinto Group during the first quarter valued at about $27,000. CNB Bank purchased a new stake in shares of Rio Tinto Group in the 4th quarter valued at approximately $28,000. First Manhattan Co. lifted its holdings in shares of Rio Tinto Group by 555.4% in the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock worth $30,000 after acquiring an additional 361 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Rio Tinto Group by 297.2% during the 1st quarter. Larson Financial Group LLC now owns 433 shares of the mining company’s stock worth $30,000 after purchasing an additional 324 shares during the period. Institutional investors and hedge funds own 10.43% of the company’s stock.
About Rio Tinto Group
Rio Tinto Plc engages in the exploration, mining, and processing of mineral resources. It operates through the following business segments: Iron Ore, Aluminium, Copper and Diamonds, Energy and Minerals, and Other Operations. The Iron Ore segment supplies global seaborne iron ore trade. The Aluminium segment produces bauxite, alumina and primary aluminum.
- Get a free copy of the StockNews.com research report on Rio Tinto Group (RIO)
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