Tidal Investments LLC Has $7.51 Million Stake in Rio Tinto Group (NYSE:RIO)

Tidal Investments LLC grew its holdings in Rio Tinto Group (NYSE:RIO) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 117,834 shares of the mining company’s stock after purchasing an additional 8,314 shares during the quarter. Tidal Investments LLC’s holdings in Rio Tinto Group were worth $7,511,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in Rio Tinto Group during the 1st quarter worth about $26,000. Geneos Wealth Management Inc. grew its holdings in Rio Tinto Group by 55.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after acquiring an additional 148 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after acquiring an additional 330 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in Rio Tinto Group during the 1st quarter worth about $29,000. Finally, Accordant Advisory Group Inc bought a new stake in Rio Tinto Group during the 1st quarter worth about $31,000. Institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RIO shares. Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. Berenberg Bank downgraded shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Finally, HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Price Performance

Shares of NYSE:RIO traded down $0.99 during mid-day trading on Thursday, reaching $64.17. The stock had a trading volume of 646,823 shares, compared to its average volume of 2,685,579. The firm has a 50 day simple moving average of $67.07 and a two-hundred day simple moving average of $67.00. 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 twelve month low of $58.27 and a twelve month high of $75.09.

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. 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.