Rio Tinto Group (NYSE:RIO) Stake Boosted by Van ECK Associates Corp

Van ECK Associates Corp raised its position in Rio Tinto Group (NYSE:RIO - Free Report) by 10.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 693,102 shares of the mining company's stock after buying an additional 67,213 shares during the quarter. Van ECK Associates Corp owned approximately 0.06% of Rio Tinto Group worth $49,328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Geneos Wealth Management Inc. lifted its position in 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 purchasing an additional 148 shares during the period. GHP Investment Advisors Inc. purchased a new position in shares of Rio Tinto Group in the 2nd quarter valued at about $26,000. Winch Advisory Services LLC acquired a new position in shares of Rio Tinto Group during the 3rd quarter worth $26,000. FSC Wealth Advisors LLC purchased a new stake in shares of Rio Tinto Group in the third quarter valued at about $28,000. Finally, Sound Income Strategies LLC increased its stake in shares of Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company's stock worth $30,000 after purchasing an additional 173 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RIO has been the topic of a number of recent analyst reports. StockNews.com raised shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 6th. Macquarie restated a "neutral" rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Berenberg Bank upgraded shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Hsbc Global Res raised shares of Rio Tinto Group to a "strong-buy" rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada raised shares of Rio Tinto Group to a "hold" rating in a research report on Wednesday, July 31st. 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 stock. Based on data from MarketBeat, Rio Tinto Group presently has an average rating of "Moderate Buy".

Rio Tinto Group Stock Down 0.5 %

RIO stock traded down $0.32 during trading on Monday, reaching $65.01. The stock had a trading volume of 1,662,724 shares, compared to its average volume of 2,742,255. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09. The company has a market capitalization of $81.44 billion, a P/E ratio of 9.60, a PEG ratio of 0.38 and a beta of 0.67. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a fifty day moving average price of $65.19 and a 200 day moving average price of $66.33.

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.