Rio Tinto Group (NYSE:RIO) Lowered to “Hold” at Berenberg Bank

Berenberg Bank cut shares of Rio Tinto Group (NYSE:RIO) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, Marketbeat reports.

A number of other brokerages have also recently commented on RIO. Citigroup cut shares of Rio Tinto Group from a buy rating to a neutral rating in a report on Monday, May 20th. Liberum Capital reiterated a hold rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Finally, StockNews.com upgraded shares of Rio Tinto Group from a buy rating to a strong-buy rating in a research note on Tuesday, May 21st. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy.

Rio Tinto Group Stock Performance

Shares of RIO stock opened at $65.93 on Thursday. Rio Tinto Group has a 12 month low of $58.27 and a 12 month high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The company’s fifty day moving average price is $68.81 and its 200-day moving average price is $68.11.

Hedge Funds Weigh In On Rio Tinto Group

A number of hedge funds have recently bought and sold shares of RIO. Northwest Investment Counselors LLC bought a new position in Rio Tinto Group during the 1st quarter valued at about $26,000. Geneos Wealth Management Inc. lifted its stake in Rio Tinto Group by 55.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after acquiring an additional 148 shares during the period. AdvisorNet Financial Inc lifted its stake in Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after acquiring an additional 330 shares during the period. YHB Investment Advisors Inc. purchased a new stake in shares of Rio Tinto Group during the 1st quarter valued at about $29,000. Finally, Accordant Advisory Group Inc purchased a new stake in shares of Rio Tinto Group during the 1st quarter valued at about $31,000. Institutional investors own 19.33% of the company’s stock.

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.