Fmr LLC Buys 358,630 Shares of Rio Tinto Group (NYSE:RIO)

Fmr LLC raised its position in Rio Tinto Group (NYSE:RIO) by 35.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,381,766 shares of the mining company’s stock after purchasing an additional 358,630 shares during the period. Fmr LLC owned 0.11% of Rio Tinto Group worth $98,340,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RIO. GHP Investment Advisors Inc. bought a new stake in Rio Tinto Group during the second quarter valued at $26,000. Winch Advisory Services LLC acquired a new stake in Rio Tinto Group during the third quarter worth approximately $26,000. FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group during the third quarter worth approximately $28,000. Sound Income Strategies LLC grew its stake in Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after purchasing an additional 173 shares during the period. Finally, Centerpoint Advisors LLC grew 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 purchasing an additional 275 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of NYSE:RIO opened at $63.40 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The stock’s fifty day simple moving average is $65.27 and its two-hundred day simple moving average is $65.38. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company 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.