Caas Capital Management LP Buys 10,033 Shares of Rio Tinto Group (NYSE:RIO)

Caas Capital Management LP increased its position in Rio Tinto Group (NYSE:RIO - Free Report) by 48.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,814 shares of the mining company's stock after buying an additional 10,033 shares during the quarter. Rio Tinto Group accounts for 0.3% of Caas Capital Management LP's portfolio, making the stock its 24th largest position. Caas Capital Management LP's holdings in Rio Tinto Group were worth $2,193,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RIO. Russell Investments Group Ltd. grew its holdings in shares of Rio Tinto Group by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company's stock worth $2,547,000 after purchasing an additional 147 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Rio Tinto Group by 55.4% in the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company's stock valued at $26,000 after acquiring an additional 148 shares during the period. Armstrong Advisory Group Inc. increased its position in shares of Rio Tinto Group by 9.6% in the third quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company's stock valued at $129,000 after acquiring an additional 159 shares during the period. Eagle Bluffs Wealth Management LLC raised its stake in shares of Rio Tinto Group by 1.1% during the second quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company's stock valued at $989,000 after acquiring an additional 163 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Rio Tinto Group by 2.4% during the first quarter. Bessemer Group Inc. now owns 7,304 shares of the mining company's stock worth $465,000 after purchasing an additional 169 shares during the period. Hedge funds and other institutional investors own 19.33% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Berenberg Bank upgraded Rio Tinto Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Hsbc Global Res raised Rio Tinto Group to a "strong-buy" rating in a research note on Tuesday, July 23rd. Macquarie reissued a "neutral" rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. HSBC raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Rio Tinto Group Price Performance

NYSE:RIO traded up $0.44 during mid-day trading on Friday, hitting $65.33. 1,807,603 shares of the company's stock were exchanged, compared to its average volume of 2,747,346. The business has a fifty day moving average price of $65.15 and a 200 day moving average price of $66.34. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

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.