Tidal Investments LLC Acquires 17,052 Shares of Rio Tinto Group (NYSE:RIO)

Tidal Investments LLC increased its holdings in shares of Rio Tinto Group (NYSE:RIO) by 16.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 122,623 shares of the mining company’s stock after acquiring an additional 17,052 shares during the quarter. Tidal Investments LLC’s holdings in Rio Tinto Group were worth $8,727,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Sequoia Financial Advisors LLC increased its stake in Rio Tinto Group by 2.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,717 shares of the mining company’s stock worth $641,000 after acquiring an additional 229 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Rio Tinto Group by 5.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 47,072 shares of the mining company’s stock valued at $3,103,000 after buying an additional 2,426 shares in the last quarter. Fiduciary Financial Group LLC bought a new stake in shares of Rio Tinto Group during the 2nd quarter worth approximately $316,000. Ellsworth Advisors LLC boosted its position in shares of Rio Tinto Group by 13.5% during the 2nd quarter. Ellsworth Advisors LLC now owns 8,468 shares of the mining company’s stock worth $558,000 after acquiring an additional 1,006 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Rio Tinto Group by 66.3% in the second quarter. Blue Trust Inc. now owns 7,737 shares of the mining company’s stock valued at $493,000 after acquiring an additional 3,084 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RIO. Berenberg Bank upgraded 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 research report on Wednesday, October 16th. Finally, StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Four 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Down 2.4 %

Rio Tinto Group stock opened at $63.43 on Friday. The business has a 50 day moving average of $64.45 and a 200-day moving average of $65.07. 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 has a 1 year low of $59.35 and a 1 year high of $75.09.

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.