Rio Tinto Group (NYSE:RIO) Shares Gap Down to $67.55

Shares of Rio Tinto Group (NYSE:RIO) gapped down prior to trading on Tuesday . The stock had previously closed at $67.55, but opened at $65.01. Rio Tinto Group shares last traded at $64.94, with a volume of 985,104 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RIO shares. Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Citigroup cut Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Rio Tinto Group currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

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 company’s 50-day moving average price is $68.65 and its 200 day moving average price is $67.63.

Institutional Trading of Rio Tinto Group

Institutional investors have recently made changes to their positions in the company. Meritage Portfolio Management grew its stake in shares of Rio Tinto Group by 0.3% in the fourth quarter. Meritage Portfolio Management now owns 42,192 shares of the mining company’s stock worth $3,142,000 after acquiring an additional 147 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Rio Tinto Group by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock worth $2,547,000 after acquiring an additional 147 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after purchasing an additional 148 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Rio Tinto Group by 8.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock worth $143,000 after purchasing an additional 150 shares in the last quarter. Finally, Optas LLC grew its stake in shares of Rio Tinto Group by 4.2% during the first quarter. Optas LLC now owns 3,833 shares of the mining company’s stock worth $244,000 after purchasing an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Company Profile

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.