GAMMA Investing LLC Acquires 203 Shares of Rio Tinto Group (NYSE:RIO)

GAMMA Investing LLC grew its holdings in shares of Rio Tinto Group (NYSE:RIO) by 12.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,861 shares of the mining company’s stock after purchasing an additional 203 shares during the quarter. GAMMA Investing LLC’s holdings in Rio Tinto Group were worth $109,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SPX Gestao de Recursos Ltda lifted its holdings in shares of Rio Tinto Group by 1,773.2% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock worth $30,384,000 after purchasing an additional 404,131 shares in the last quarter. DGS Capital Management LLC lifted its holdings in shares of Rio Tinto Group by 22.2% in the 3rd quarter. DGS Capital Management LLC now owns 16,797 shares of the mining company’s stock worth $1,195,000 after purchasing an additional 3,057 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Rio Tinto Group by 16.2% in the 3rd quarter. Tidal Investments LLC now owns 122,623 shares of the mining company’s stock worth $8,727,000 after purchasing an additional 17,052 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Rio Tinto Group in the 3rd quarter worth $218,000. Finally, World Investment Advisors LLC lifted its holdings in shares of Rio Tinto Group by 5.9% in the 3rd quarter. World Investment Advisors LLC now owns 4,802 shares of the mining company’s stock worth $342,000 after purchasing an additional 266 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of recent research reports. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group lowered their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four equities research 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Trading Up 0.5 %

NYSE RIO opened at $58.91 on Friday. The firm has a market capitalization of $73.81 billion, a P/E ratio of 8.55, a PEG ratio of 0.38 and a beta of 0.66. The business has a fifty day simple moving average of $61.51 and a 200 day simple moving average of $63.79. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

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.