Bridgewater Associates LP Has $18.13 Million Holdings in Rio Tinto Group (NYSE:RIO)

Bridgewater Associates LP increased its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 896.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 254,765 shares of the mining company's stock after purchasing an additional 229,202 shares during the quarter. Bridgewater Associates LP's holdings in Rio Tinto Group were worth $18,132,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Armstrong Advisory Group Inc. increased its stake in shares of Rio Tinto Group by 9.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company's stock valued at $129,000 after buying an additional 159 shares during the period. Eagle Bluffs Wealth Management LLC increased its position in Rio Tinto Group by 1.1% in the second quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company's stock worth $989,000 after purchasing an additional 163 shares during the period. Sound Income Strategies LLC increased its position in Rio Tinto Group by 70.9% in 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 during the period. Concurrent Investment Advisors LLC raised its holdings in Rio Tinto Group by 4.3% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company's stock worth $303,000 after purchasing an additional 175 shares during the last quarter. Finally, Fiduciary Financial Group LLC lifted its position in Rio Tinto Group by 3.7% during the 3rd quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company's stock valued at $330,000 after purchasing an additional 178 shares during the period. Institutional investors and hedge funds own 19.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RIO. Berenberg Bank raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Macquarie reiterated a "neutral" rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. StockNews.com lowered Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada upgraded Rio Tinto Group to a "hold" rating in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Rio Tinto Group has an average rating of "Moderate Buy".

Rio Tinto Group Price Performance

NYSE RIO traded up $0.29 during trading hours on Thursday, reaching $62.32. 1,712,837 shares of the company's stock were exchanged, compared to its average volume of 2,735,135. 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 has a one year low of $59.35 and a one year high of $75.09. The company's 50-day moving average is $65.48 and its two-hundred day moving average is $65.64.

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.