Rio Tinto Group (NYSE:RIO) is Palliser Capital UK Ltd's Largest Position

Palliser Capital UK Ltd increased its holdings in Rio Tinto Group (NYSE:RIO - Free Report) by 213.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 989,417 shares of the mining company's stock after purchasing an additional 674,117 shares during the quarter. Rio Tinto Group accounts for 46.5% of Palliser Capital UK Ltd's investment portfolio, making the stock its biggest position. Palliser Capital UK Ltd owned 0.08% of Rio Tinto Group worth $58,188,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Fisher Asset Management LLC raised its position in shares of Rio Tinto Group by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company's stock worth $1,247,475,000 after acquiring an additional 485,731 shares in the last quarter. Bank of Montreal Can raised its stake 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 valued at $164,493,000 after buying an additional 1,738,752 shares during the last quarter. FMR LLC boosted its holdings in Rio Tinto Group by 35.1% in the third quarter. FMR LLC now owns 1,381,766 shares of the mining company's stock worth $98,340,000 after acquiring an additional 358,630 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in shares of 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 valued at $66,341,000 after acquiring an additional 83,569 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Rio Tinto Group by 78.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company's stock worth $56,565,000 after purchasing an additional 376,778 shares in the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Down 1.7 %

Shares of NYSE:RIO traded down $1.01 during trading on Thursday, hitting $59.45. 8,700,084 shares of the company's stock were exchanged, compared to its average volume of 3,486,756. The business's 50-day simple moving average is $61.30 and its 200 day simple moving average is $63.66. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24.

Analysts Set New Price Targets

RIO has been the subject of a number of recent analyst reports. Macquarie restated a "neutral" rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Berenberg Bank raised Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Jefferies Financial Group decreased their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, StockNews.com lowered shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $73.00.

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.