Gateway Investment Advisers LLC boosted its holdings in Rio Tinto Group (NYSE:RIO - Free Report) by 142.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,491 shares of the mining company's stock after buying an additional 17,319 shares during the quarter. Gateway Investment Advisers LLC's holdings in Rio Tinto Group were worth $1,734,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. Outlook Wealth Advisors LLC acquired a new position in shares of Rio Tinto Group in the 4th quarter valued at about $410,000. Palliser Capital UK Ltd grew its position in Rio Tinto Group by 213.8% during the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company's stock valued at $58,188,000 after purchasing an additional 674,117 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock valued at $29,000 after buying an additional 195 shares during the period. Park Avenue Securities LLC lifted its position in Rio Tinto Group by 23.6% in the 4th quarter. Park Avenue Securities LLC now owns 14,387 shares of the mining company's stock worth $846,000 after buying an additional 2,746 shares in the last quarter. Finally, Kathmere Capital Management LLC boosted its stake in shares of Rio Tinto Group by 18.6% during the 4th quarter. Kathmere Capital Management LLC now owns 3,544 shares of the mining company's stock valued at $208,000 after buying an additional 556 shares during the period. Institutional investors and hedge funds own 19.33% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Macquarie reaffirmed a "neutral" rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. StockNews.com upgraded Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Friday. Berenberg Bank upgraded shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group dropped their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $73.00.
View Our Latest Analysis on Rio Tinto Group
Rio Tinto Group Trading Up 2.0 %
Rio Tinto Group stock traded up $1.21 during trading hours on Friday, reaching $61.00. 4,696,896 shares of the company were exchanged, compared to its average volume of 2,271,512. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average of $60.98 and a 200 day moving average of $63.57.
About Rio Tinto Group
(
Free Report)
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.
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