Citigroup Lowers Rio Tinto Group (NYSE:RIO) to Neutral

Citigroup lowered shares of Rio Tinto Group (NYSE:RIO) from a buy rating to a neutral rating in a report released on Monday morning, MarketBeat.com reports.

Several other analysts also recently commented on the stock. StockNews.com downgraded shares of Rio Tinto Group from a strong-buy rating to a buy rating in a research report on Monday, May 13th. Liberum Capital reissued a hold rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Rio Tinto Group currently has an average rating of Moderate Buy and an average target price of $72.00.

Rio Tinto Group Stock Down 1.1 %

Shares of NYSE:RIO opened at $71.42 on Monday. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. The stock has a 50 day moving average of $67.08 and a 200 day moving average of $68.20. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Schechter Investment Advisors LLC grew its holdings in Rio Tinto Group by 10.9% during the 3rd quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock valued at $556,000 after buying an additional 858 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Rio Tinto Group in the fourth quarter worth $7,954,000. Sei Investments Co. raised its stake in Rio Tinto Group by 18.3% during the third quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock valued at $45,926,000 after purchasing an additional 111,623 shares in the last quarter. Morgan Stanley lifted its position 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 valued at $284,111,000 after purchasing an additional 118,706 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its position in Rio Tinto Group by 88.2% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock valued at $612,000 after purchasing an additional 3,852 shares during the last quarter. Hedge funds and other 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.