Rio Tinto (NYSE:RIO) Stock Rating Upgraded by Zacks Research

Rio Tinto (NYSE:RIO) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

RIO has been the topic of several other research reports. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Rio Tinto in a report on Monday, December 1st. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Tuesday, December 16th. Argus boosted their price objective on Rio Tinto from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Citigroup restated a “hold” rating on shares of Rio Tinto in a research note on Monday, November 17th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rio Tinto in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.00.

Rio Tinto Stock Performance

NYSE:RIO opened at $80.55 on Monday. The company’s 50 day moving average is $73.38 and its 200-day moving average is $66.14. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. Rio Tinto has a 12 month low of $51.67 and a 12 month high of $82.36.

Institutional Trading of Rio Tinto

Several institutional investors have recently modified their holdings of the company. Salomon & Ludwin LLC raised its stake in shares of Rio Tinto by 62.2% in the third quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock valued at $31,000 after purchasing an additional 181 shares in the last quarter. Root Financial Partners LLC bought a new stake in Rio Tinto in the 3rd quarter valued at $36,000. Triumph Capital Management acquired a new position in shares of Rio Tinto in the 3rd quarter valued at $38,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Rio Tinto in the 2nd quarter valued at $38,000. Finally, Strategic Advocates LLC bought a new position in shares of Rio Tinto during the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

About Rio Tinto

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.