Rio Tinto Group (NYSE:RIO – Get Free Report) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Monday.
A number of other analysts also recently issued reports on the company. The Goldman Sachs Group initiated coverage on Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating for the company. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.
Check Out Our Latest Stock Report on RIO
Rio Tinto Group Stock Up 1.1 %
Institutional Trading of Rio Tinto Group
Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in shares of Rio Tinto Group by 44.9% in the 3rd quarter. SG Americas Securities LLC now owns 16,243 shares of the mining company’s stock valued at $1,034,000 after purchasing an additional 5,034 shares in the last quarter. Simplicity Solutions LLC boosted its position in Rio Tinto Group by 6.2% during the third quarter. Simplicity Solutions LLC now owns 5,017 shares of the mining company’s stock valued at $319,000 after buying an additional 294 shares during the period. Valeo Financial Advisors LLC grew its stake in shares of Rio Tinto Group by 96.8% during the third quarter. Valeo Financial Advisors LLC now owns 8,087 shares of the mining company’s stock valued at $515,000 after buying an additional 3,978 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Rio Tinto Group by 0.7% during the third quarter. Commonwealth Equity Services LLC now owns 197,915 shares of the mining company’s stock valued at $12,595,000 after buying an additional 1,374 shares during the last quarter. Finally, Sweet Financial Partners LLC increased its holdings in shares of Rio Tinto Group by 27.6% in the third quarter. Sweet Financial Partners LLC now owns 11,862 shares of the mining company’s stock worth $755,000 after buying an additional 2,563 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.
Rio Tinto Group Company Profile
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.
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