Caas Capital Management LP Increases Stock Position in Rio Tinto Group (NYSE:RIO)

Caas Capital Management LP raised its position in shares of Rio Tinto Group (NYSE:RIO) by 48.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,814 shares of the mining company’s stock after buying an additional 10,033 shares during the period. Rio Tinto Group comprises about 0.3% of Caas Capital Management LP’s holdings, making the stock its 24th largest holding. Caas Capital Management LP’s holdings in Rio Tinto Group were worth $2,193,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RIO. Bank of Montreal Can increased its stake in shares of Rio Tinto Group by 237.0% during the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after buying an additional 1,738,752 shares during the period. Earnest Partners LLC lifted its position in shares of Rio Tinto Group by 1.4% during the 1st quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company’s stock worth $88,979,000 after purchasing an additional 19,334 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Rio Tinto Group by 296.2% during the first quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock worth $71,382,000 after purchasing an additional 764,635 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in Rio Tinto Group by 9.8% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company’s stock valued at $66,341,000 after buying an additional 83,569 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Rio Tinto Group by 78.3% in the second quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock valued at $56,565,000 after buying an additional 376,778 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Up 0.9 %

Rio Tinto Group stock traded up $0.57 during mid-day trading on Friday, reaching $65.46. 530,866 shares of the company were exchanged, compared to its average volume of 2,741,324. The firm’s 50-day simple moving average is $65.15 and its two-hundred day simple moving average is $66.34. Rio Tinto Group has a twelve month low of $59.35 and a twelve month 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.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RIO shares. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Rio Tinto Group currently 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.