Rio Tinto (NYSE:RIO) Raised to Strong-Buy at Zacks Research

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

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

Rio Tinto Stock Up 0.2%

RIO opened at $80.55 on Monday. Rio Tinto has a fifty-two week low of $51.67 and a fifty-two week high of $82.36. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average of $73.38 and a 200 day moving average of $66.14.

Institutional Trading of Rio Tinto

Several institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC grew its stake in shares of Rio Tinto by 62.2% during the third quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock valued at $31,000 after buying an additional 181 shares during the last quarter. Root Financial Partners LLC bought a new position in Rio Tinto in the 3rd quarter valued at $36,000. Triumph Capital Management purchased a new stake in Rio Tinto in the third quarter worth $38,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Rio Tinto during the second quarter worth $38,000. Finally, Strategic Advocates LLC purchased a new stake in shares of Rio Tinto during the third quarter valued at $44,000. Institutional investors 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.