Sequoia Financial Advisors LLC increased its position in Rio Tinto Group (NYSE:RIO – Free Report) by 9.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,848 shares of the mining company’s stock after buying an additional 710 shares during the period. Sequoia Financial Advisors LLC’s holdings in Rio Tinto Group were worth $538,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RIO. Cowa LLC acquired a new position in shares of Rio Tinto Group during the 1st quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in Rio Tinto Group in the first quarter worth $27,000. CNB Bank acquired a new position in Rio Tinto Group during the fourth quarter worth $28,000. First Manhattan Co. raised its holdings in Rio Tinto Group by 555.4% during the fourth quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock valued at $30,000 after buying an additional 361 shares in the last quarter. Finally, Banque Cantonale Vaudoise lifted its position in shares of Rio Tinto Group by 93.0% in the first quarter. Banque Cantonale Vaudoise now owns 550 shares of the mining company’s stock worth $38,000 after buying an additional 265 shares during the last quarter. Institutional investors own 10.44% of the company’s stock.
Analyst Ratings Changes
RIO has been the topic of a number of recent analyst reports. Liberum Capital raised Rio Tinto Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Citigroup upgraded Rio Tinto Group from a “neutral” rating to a “buy” rating in a report on Thursday, June 8th. StockNews.com began coverage on Rio Tinto Group in a report on Thursday, May 18th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Monday, June 5th. Finally, Morgan Stanley upgraded Rio Tinto Group from an “equal weight” rating to an “overweight” rating in a report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $4,360.50.
Rio Tinto Group Stock Performance
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. It offers aluminum, copper, iron ore, diamonds, gold, borates, titanium dioxide, salt, silver, molybdenum, and lithium. The company also owns and operates open pit and underground mines, refineries, smelters, and concentrator facilities, as well as power stations, research, and service facilities.
Featured Articles
- Five stocks we like better than Rio Tinto Group
- Contrarian Play: Beyond Meat Is At An Inflection Point
- Alibaba Just Flashed Green, Very Green
- This Small Cap Stock Surged Over 100%
- The CPI Data Isn’t As Good As You Think It Is
- How to Invest in Gold and Silver
Want to see what other hedge funds are holding RIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rio Tinto Group (NYSE:RIO – Free Report).
Receive News & Ratings for Rio Tinto Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto Group and related companies with MarketBeat.com's FREE daily email newsletter.
