Requisite Capital Management LLC Has $479,000 Position in Rio Tinto Group (NYSE:RIO)

Requisite Capital Management LLC increased its stake in Rio Tinto Group (NYSE:RIO) by 25.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,217 shares of the mining company’s stock after purchasing an additional 1,461 shares during the quarter. Requisite Capital Management LLC’s holdings in Rio Tinto Group were worth $479,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RIO. Naviter Wealth LLC increased its position in Rio Tinto Group by 14.6% in the 1st quarter. Naviter Wealth LLC now owns 24,593 shares of the mining company’s stock worth $1,629,000 after buying an additional 3,134 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in Rio Tinto Group by 22.7% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 978,859 shares of the mining company’s stock worth $62,392,000 after buying an additional 180,874 shares during the period. Allspring Global Investments Holdings LLC increased its position in Rio Tinto Group by 54.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,638 shares of the mining company’s stock worth $614,000 after buying an additional 3,414 shares during the period. Breakwater Capital Group bought a new position in Rio Tinto Group in the 1st quarter worth approximately $291,000. Finally, Optas LLC increased its position in Rio Tinto Group by 4.2% in the 1st quarter. Optas LLC now owns 3,833 shares of the mining company’s stock worth $244,000 after buying an additional 154 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

RIO stock traded down $0.40 during trading on Tuesday, hitting $66.01. The company had a trading volume of 1,717,645 shares, compared to its average volume of 2,721,531. The company has a fifty day moving average price of $68.79 and a two-hundred day moving average price of $68.06. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. The company has a market cap of $82.68 billion, a P/E ratio of 8.92, a P/E/G ratio of 6.98 and a beta of 0.67. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09.

Wall Street Analyst Weigh In

Several brokerages have commented on RIO. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Finally, Citigroup cut Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

About Rio Tinto Group

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.