1,730 Shares in Rio Tinto Group (NYSE:RIO) Purchased by LGT Group Foundation

LGT Group Foundation acquired a new position in shares of Rio Tinto Group (NYSE:RIO) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,730 shares of the mining company’s stock, valued at approximately $110,000.

Several other hedge funds have also bought and sold shares of RIO. Meritage Portfolio Management lifted its position in Rio Tinto Group by 0.3% during the fourth quarter. Meritage Portfolio Management now owns 42,192 shares of the mining company’s stock valued at $3,142,000 after purchasing an additional 147 shares during the period. Russell Investments Group Ltd. increased its holdings in Rio Tinto Group by 0.4% during the first quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock valued at $2,547,000 after buying an additional 147 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after buying an additional 148 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Rio Tinto Group by 8.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock valued at $143,000 after buying an additional 150 shares during the last quarter. Finally, Optas LLC increased its holdings in Rio Tinto Group by 4.2% during the first quarter. Optas LLC now owns 3,833 shares of the mining company’s stock valued at $244,000 after buying an additional 154 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.7 %

Shares of NYSE RIO traded up $0.44 during midday trading on Friday, reaching $64.77. The stock had a trading volume of 815,118 shares, compared to its average volume of 2,680,371. The stock has a 50-day moving average of $67.75 and a 200-day moving average of $67.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RIO shares. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup cut shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. Berenberg Bank cut shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Finally, Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

About Rio Tinto Group

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.