Rio Tinto Group (NYSE:RIO) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC boosted its stake in shares of Rio Tinto Group (NYSE:RIO) by 7.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 117,834 shares of the mining company’s stock after buying an additional 8,314 shares during the period. Tidal Investments LLC’s holdings in Rio Tinto Group were worth $7,511,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in Rio Tinto Group during the first quarter worth $26,000. Geneos Wealth Management Inc. boosted its holdings in Rio Tinto Group by 55.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after acquiring an additional 148 shares during the period. AdvisorNet Financial Inc grew its holdings in shares of Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after purchasing an additional 330 shares in the last quarter. YHB Investment Advisors Inc. purchased a new position in Rio Tinto Group in the 1st quarter valued at approximately $29,000. Finally, Accordant Advisory Group Inc acquired a new stake in Rio Tinto Group during the first quarter worth approximately $31,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RIO shares. Berenberg Bank downgraded Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Finally, Citigroup downgraded Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Rio Tinto Group currently has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Down 1.5 %

Shares of RIO stock traded down $0.99 during trading hours on Thursday, reaching $64.17. 646,823 shares of the company’s stock were exchanged, compared to its average volume of 2,685,579. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The company’s 50 day moving average is $67.07 and its two-hundred day moving average is $67.00. Rio Tinto Group has a 1 year low of $58.27 and a 1 year high of $75.09.

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.