SPX Gestao de Recursos Ltda Has $30.38 Million Stake in Rio Tinto Group (NYSE:RIO)

SPX Gestao de Recursos Ltda increased its holdings in Rio Tinto Group (NYSE:RIO - Free Report) by 1,773.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 426,922 shares of the mining company's stock after acquiring an additional 404,131 shares during the period. Rio Tinto Group comprises approximately 4.0% of SPX Gestao de Recursos Ltda's portfolio, making the stock its 7th biggest holding. SPX Gestao de Recursos Ltda's holdings in Rio Tinto Group were worth $30,384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. GHP Investment Advisors Inc. purchased a new position in Rio Tinto Group in the second quarter valued at approximately $26,000. Winch Advisory Services LLC bought 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 Rio Tinto Group in the 3rd quarter worth about $28,000. Sound Income Strategies LLC raised its stake in Rio Tinto Group by 70.9% in the 3rd 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 during the period. Finally, Centerpoint Advisors LLC lifted its holdings in Rio Tinto Group by 110.0% during the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company's stock valued at $35,000 after purchasing an additional 275 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Price Performance

Shares of RIO stock traded down $1.24 during trading hours on Friday, reaching $62.21. The stock had a trading volume of 3,232,078 shares, compared to its average volume of 2,768,705. The stock's fifty day simple moving average is $64.30 and its 200 day simple moving average is $65.01. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RIO shares. Macquarie reiterated a "neutral" rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. 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. Finally, Berenberg Bank raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

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.