Rio Tinto Group (NYSE:RIO) Shares Gap Up to $66.01

Rio Tinto Group (NYSE:RIO)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $66.01, but opened at $67.70. Rio Tinto Group shares last traded at $67.95, with a volume of 306,463 shares changing hands.

Analyst Ratings Changes

A number of research firms recently commented on RIO. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Berenberg Bank lowered shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Finally, Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. 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, Rio Tinto Group currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $68.78 and its two-hundred day moving average price is $68.02.

Institutional Investors Weigh In On Rio Tinto Group

A number of hedge funds and other institutional investors have recently made changes to their positions in RIO. AdvisorNet Financial Inc increased its stake in shares of Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after purchasing an additional 330 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Rio Tinto Group during the 1st quarter worth about $26,000. Geneos Wealth Management Inc. raised its stake in shares of Rio Tinto Group by 55.4% in 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 in the last quarter. YHB Investment Advisors Inc. acquired a new position in Rio Tinto Group during the first quarter valued at approximately $29,000. Finally, Accordant Advisory Group Inc bought a new stake in shares of Rio Tinto Group during the 1st quarter worth $31,000. 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.