Rio Tinto Group (NYSE:RIO – Get Rating) had its price objective increased by Deutsche Bank Aktiengesellschaft from GBX 5,700 ($67.40) to GBX 5,800 ($68.58) in a research report issued to clients and investors on Wednesday, The Fly reports.

Separately, Macquarie downgraded Rio Tinto Group from an "outperform" rating to a "neutral" rating in a report on Tuesday, August 23rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $2,935.00.

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Rio Tinto Group Price Performance

RIO opened at $66.14 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.79 and a quick ratio of 1.34. Rio Tinto Group has a 52-week low of $50.92 and a 52-week high of $84.69. The stock's 50 day moving average price is $57.19 and its 200-day moving average price is $60.75.

Institutional Investors Weigh In On Rio Tinto Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Toroso Investments LLC increased its holdings in Rio Tinto Group by 22.5% during the 3rd quarter. Toroso Investments LLC now owns 197,366 shares of the mining company's stock worth $10,867,000 after purchasing an additional 36,283 shares during the period. Eagle Bay Advisors LLC boosted its position in Rio Tinto Group by 59.7% during the 3rd quarter. Eagle Bay Advisors LLC now owns 2,598 shares of the mining company's stock valued at $143,000 after acquiring an additional 971 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in Rio Tinto Group during the 3rd quarter valued at $32,319,000. Pasadena Private Wealth LLC boosted its position in Rio Tinto Group by 37.4% during the 3rd quarter. Pasadena Private Wealth LLC now owns 4,673 shares of the mining company's stock valued at $257,000 after acquiring an additional 1,273 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in Rio Tinto Group by 141.4% during the 3rd quarter. Captrust Financial Advisors now owns 55,839 shares of the mining company's stock valued at $3,074,000 after acquiring an additional 32,705 shares in the last quarter. 10.05% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Company Profile

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Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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