Sanctuary Advisors LLC lifted its position in Rio Tinto Group (NYSE:RIO – Free Report) by 1.8% in the 3rd quarter, Holdings Channel reports. The fund owned 28,506 shares of the mining company’s stock after acquiring an additional 516 shares during the quarter. Sanctuary Advisors LLC’s holdings in Rio Tinto Group were worth $2,029,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. GHP Investment Advisors Inc. bought a new position in Rio Tinto Group in the second quarter worth $26,000. Winch Advisory Services LLC purchased a new stake in shares of Rio Tinto Group in the 3rd quarter worth about $26,000. FSC Wealth Advisors LLC bought a new position in shares of Rio Tinto Group in the 3rd quarter worth about $28,000. Sound Income Strategies LLC lifted its position in Rio Tinto Group by 70.9% during 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 boosted its stake in Rio Tinto Group by 110.0% during the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after acquiring an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.
Wall Street Analysts Forecast Growth
RIO has been the subject of a number of analyst reports. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four equities research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.
Rio Tinto Group Stock Down 3.4 %
Shares of Rio Tinto Group stock opened at $59.34 on Thursday. The company has a 50-day simple moving average of $63.89 and a two-hundred day simple moving average of $64.77. Rio Tinto Group has a 52-week low of $59.19 and a 52-week high of $75.09. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.
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.
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