Rio Tinto Group (NYSE:RIO) Downgraded by StockNews.com to "Buy"

Rio Tinto Group (NYSE:RIO - Get Free Report) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Wednesday.

RIO has been the subject of a number of other research reports. Liberum Capital reaffirmed a "hold" rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. The Goldman Sachs Group began coverage on shares of Rio Tinto Group in a report on Friday, January 12th. They issued a "buy" rating on the stock. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $72.00.

Rio Tinto Group Stock Down 1.1 %

RIO traded down $0.76 on Wednesday, reaching $66.50. The stock had a trading volume of 3,062,493 shares, compared to its average volume of 2,926,459. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. 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 business's 50-day moving average price is $65.15 and its two-hundred day moving average price is $66.90.

Institutional Trading of Rio Tinto Group

Several hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of Rio Tinto Group by 7.1% in the 4th quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company's stock valued at $1,849,476,000 after purchasing an additional 1,644,751 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Rio Tinto Group by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company's stock valued at $1,194,751,000 after acquiring an additional 475,329 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Rio Tinto Group by 58.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 12,899,694 shares of the mining company's stock worth $1,037,135,000 after purchasing an additional 4,783,488 shares during the period. Capital World Investors raised its holdings in shares of Rio Tinto Group by 4.2% during the first quarter. Capital World Investors now owns 8,484,992 shares of the mining company's stock worth $682,195,000 after purchasing an additional 344,145 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Rio Tinto Group by 56.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,707,717 shares of the mining company's stock worth $424,997,000 after purchasing an additional 2,053,147 shares during the period. 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.

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