Rio Tinto Group (NYSE:RIO) Hits New 12-Month Low - What's Next?

Rio Tinto Group (NYSE:RIO) has recently reached a new 52-week low, with its stock price dropping to as low as $59.27 on Wednesday. The stock closed at $61.46 the day before and was last traded at $59.33, with a trading volume of approximately 2.6 million shares exchanged.

Recent Analyst Ratings

Equity research analysts have been assessing Rio Tinto Group lately. On October 2nd, Berenberg Bank upgraded its rating for Rio Tinto from a "hold" to a "buy." Additionally, StockNews.com revised its rating on November 12th from a "strong-buy" to a "buy." Meanwhile, Macquarie maintained a "neutral" rating as of October 16th. Overall, there are four analysts with a hold rating, while four others have indicated a buy rating, and one has assigned a strong buy rating to the stock. According to MarketBeat, the average rating for Rio Tinto Group stands at "Moderate Buy."

Performance Overview

This week, Rio Tinto Group’s stock has declined by 3.4%. Financial ratios for the company show a debt-to-equity ratio of 0.23, a current ratio of 1.70, and a quick ratio of 1.16. The company's fifty-day moving average price is currently at $64.03, while the 200-day moving average price is at $64.81.

Institutional Investment Trends

There has been notable activity from hedge funds and other institutional investors regarding their stake in Rio Tinto Group. For instance, Winch Advisory Services LLC established a new position in the third quarter, valued at about $26,000. GHP Investment Advisors Inc. also secured a new position in the second quarter, worth approximately $26,000. Additionally, FSC Wealth Advisors LLC purchased a new stake in the company's stock valued at around $28,000 during the third quarter. Sound Income Strategies LLC boosted its holdings by 70.9%, acquiring 417 shares valued at $30,000 after buying an additional 173 shares in the last quarter. Centerpoint Advisors LLC raised its position by 110%, owning 525 shares worth $35,000 after purchasing 275 additional shares. As it stands, institutional investors and hedge funds collectively hold about 19.33% of Rio Tinto Group’s stock.

About Rio Tinto Group

Rio Tinto Group engages in the exploration, mining, and processing of mineral resources around the globe. The company operates through various segments including Iron Ore, Aluminium, Copper, and Minerals. The Iron Ore segment focuses on mining iron ore and producing salt and gypsum in Western Australia. Meanwhile, the Aluminium segment engages in bauxite mining, alumina refining, and aluminium smelting.

Should You Consider Investing?

Investors considering placing their money into Rio Tinto Group should be informed. Although analysts give the stock a "Moderate Buy" rating, it has not made the list of five stocks that highly-rated analysts are currently recommending to their clients. Therefore, potential investors may want to explore other options before investing in Rio Tinto.

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