Polar Asset Management Partners Inc. Acquires New Position in Rio Tinto Group (NYSE:RIO)

Polar Asset Management Partners Inc. acquired a new stake in Rio Tinto Group (NYSE:RIO - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 31,700 shares of the mining company's stock, valued at approximately $2,256,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GHP Investment Advisors Inc. acquired a new position in shares of Rio Tinto Group in the 2nd quarter valued at $26,000. Winch Advisory Services LLC acquired a new position in Rio Tinto Group in the third quarter valued at $26,000. FSC Wealth Advisors LLC purchased a new position in shares of Rio Tinto Group during the third quarter worth about $28,000. Sound Income Strategies LLC increased its position in shares of Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company's stock worth $30,000 after purchasing an additional 173 shares in the last quarter. Finally, Centerpoint Advisors LLC lifted its holdings in shares of Rio Tinto Group by 110.0% in the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company's stock valued at $35,000 after purchasing an additional 275 shares during the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. StockNews.com lowered Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 12th. Berenberg Bank raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Finally, Macquarie reiterated a "neutral" rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

Rio Tinto Group Trading Down 2.2 %

Shares of Rio Tinto Group stock traded down $1.42 during trading hours on Friday, hitting $62.10. 2,714,599 shares of the company were exchanged, compared to its average volume of 2,735,899. The business has a 50-day moving average of $65.13 and a 200-day moving average of $65.37. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Rio Tinto Group 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.