Rio Tinto Group (NYSE:RIO) Position Lifted by Fmr LLC

FMR LLC boosted its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 35.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,381,766 shares of the mining company's stock after purchasing an additional 358,630 shares during the period. FMR LLC owned approximately 0.11% of Rio Tinto Group worth $98,340,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fisher Asset Management LLC boosted its holdings in shares of Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company's stock valued at $1,247,475,000 after acquiring an additional 485,731 shares in the last quarter. Bank of Montreal Can raised its position in Rio Tinto Group by 237.0% during the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company's stock worth $164,493,000 after acquiring an additional 1,738,752 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in Rio Tinto Group by 9.8% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company's stock worth $66,341,000 after acquiring an additional 83,569 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Rio Tinto Group by 78.3% during the second quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company's stock worth $56,565,000 after acquiring an additional 376,778 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Rio Tinto Group during the second quarter worth about $48,129,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RIO shares. StockNews.com cut shares of 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 research note on Wednesday, October 2nd. Finally, Macquarie reissued a "neutral" rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock traded up $0.13 during trading hours on Thursday, hitting $63.52. The company's stock had a trading volume of 2,181,493 shares, compared to its average volume of 2,735,123. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09. The business has a fifty day moving average of $65.13 and a 200 day moving average of $65.37. 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.