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

Rio Tinto Group (NYSE:RIO)’s stock price gapped up prior to trading 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RIO shares. Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Finally, Berenberg Bank lowered Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Rio Tinto Group has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Up 3.3 %

The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. The business’s fifty day moving average is $68.78 and its 200 day moving average is $68.02.

Institutional Trading of Rio Tinto Group

Several hedge funds and other institutional investors have recently modified their holdings of RIO. International Assets Investment Management LLC acquired a new stake in Rio Tinto Group in the 4th quarter valued at approximately $7,954,000. Sei Investments Co. lifted its position in shares of Rio Tinto Group by 18.3% in the third quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock worth $45,926,000 after purchasing an additional 111,623 shares in the last quarter. Morgan Stanley boosted its holdings in Rio Tinto Group by 2.7% during the third quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after purchasing an additional 118,706 shares during the last quarter. Kingswood Wealth Advisors LLC increased its stake in Rio Tinto Group by 88.2% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock valued at $612,000 after buying an additional 3,852 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Rio Tinto Group in the fourth quarter valued at about $4,319,000. Institutional investors and hedge funds 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.