Impala Asset Management LLC Acquires Shares of 59,800 Rio Tinto Group (NYSE:RIO)

Impala Asset Management LLC bought a new position in shares of Rio Tinto Group (NYSE:RIO - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 59,800 shares of the mining company's stock, valued at approximately $4,256,000. Rio Tinto Group makes up approximately 3.0% of Impala Asset Management LLC's portfolio, making the stock its 11th largest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Winch Advisory Services LLC acquired a new position in Rio Tinto Group during the 3rd quarter worth $26,000. GHP Investment Advisors Inc. acquired a new position in shares of Rio Tinto Group during the second quarter worth about $26,000. FSC Wealth Advisors LLC purchased a new stake in shares of Rio Tinto Group during the third quarter worth approximately $28,000. Sound Income Strategies LLC raised its holdings 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 valued at $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Centerpoint Advisors LLC lifted its stake in Rio Tinto Group by 110.0% in the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company's stock worth $35,000 after acquiring 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

RIO has been the topic of a number of analyst reports. StockNews.com lowered shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 12th. Berenberg Bank raised 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 report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Rio Tinto Group Stock Performance

Shares of NYSE RIO traded down $0.07 during trading hours on Tuesday, reaching $64.82. The stock had a trading volume of 2,674,237 shares, compared to its average volume of 2,747,925. Rio Tinto Group has a fifty-two week low of $59.35 and a fifty-two week high of $75.09. 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 firm has a 50-day moving average of $64.82 and a 200-day moving average of $65.14.

Rio Tinto Group Company 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.