Oppenheimer & Co. Inc. Acquires 2,459 Shares of Rio Tinto Group (NYSE:RIO)

Oppenheimer & Co. Inc. grew its holdings in shares of Rio Tinto Group (NYSE:RIO) by 6.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,586 shares of the mining company’s stock after purchasing an additional 2,459 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Rio Tinto Group were worth $2,746,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Winch Advisory Services LLC bought a new position in Rio Tinto Group in the third quarter worth $26,000. GHP Investment Advisors Inc. bought a new position in Rio Tinto Group in the 2nd quarter worth approximately $26,000. FSC Wealth Advisors LLC acquired a new position in shares of Rio Tinto Group during the third quarter valued at $28,000. Sound Income Strategies LLC boosted its stake in Rio Tinto Group by 70.9% in the third 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 last quarter. Finally, Centerpoint Advisors LLC grew its position in shares of Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after buying an additional 275 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.9 %

NYSE RIO opened at $60.98 on Friday. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The firm has a 50-day moving average price of $65.44 and a two-hundred day moving average price of $66.05.

Wall Street Analyst Weigh In

Several analysts recently commented on RIO shares. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Rio Tinto Group currently has an average rating of “Moderate Buy”.

Rio Tinto Group 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.