Tidal Investments LLC Boosts Stock Holdings in Rio Tinto Group (NYSE:RIO)

Tidal Investments LLC boosted its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 16.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,623 shares of the mining company's stock after purchasing an additional 17,052 shares during the quarter. Tidal Investments LLC's holdings in Rio Tinto Group were worth $8,727,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Armstrong Advisory Group Inc. lifted its position in shares of Rio Tinto Group by 9.6% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company's stock worth $129,000 after purchasing an additional 159 shares during the last quarter. Eagle Bluffs Wealth Management LLC lifted its holdings in Rio Tinto Group by 1.1% during the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company's stock worth $989,000 after buying an additional 163 shares during the last quarter. Sound Income Strategies LLC boosted its position 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 acquiring an additional 173 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of Rio Tinto Group by 4.3% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company's stock valued at $303,000 after acquiring an additional 175 shares during the last quarter. Finally, Fiduciary Financial Group LLC raised its position in shares of Rio Tinto Group by 3.7% during the 3rd quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company's stock worth $330,000 after acquiring an additional 178 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

Wall Street Analyst Weigh In

RIO has been the subject of a number of research analyst reports. Berenberg Bank raised Rio Tinto Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Macquarie reaffirmed a "neutral" rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. 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 analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Rio Tinto Group Trading Down 2.0 %

Shares of RIO traded down $1.29 during mid-day trading on Friday, reaching $62.16. 2,669,303 shares of the company's stock were exchanged, compared to its average volume of 2,765,764. The business's fifty day simple moving average is $64.45 and its 200-day simple moving average is $65.07. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09. 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 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.