SPX Gestao de Recursos Ltda Grows Position in Rio Tinto Group (NYSE:RIO)

SPX Gestao de Recursos Ltda grew its position in Rio Tinto Group (NYSE:RIO) by 1,773.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 426,922 shares of the mining company’s stock after purchasing an additional 404,131 shares during the quarter. Rio Tinto Group comprises approximately 4.0% of SPX Gestao de Recursos Ltda’s investment portfolio, making the stock its 7th biggest position. SPX Gestao de Recursos Ltda’s holdings in Rio Tinto Group were worth $30,384,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RIO. GHP Investment Advisors Inc. acquired a new stake in Rio Tinto Group during the second quarter worth approximately $26,000. Winch Advisory Services LLC acquired a new stake in shares of Rio Tinto Group in the 3rd quarter valued at $26,000. FSC Wealth Advisors LLC bought a new position in shares of Rio Tinto Group in the 3rd quarter valued at $28,000. Sound Income Strategies LLC lifted its stake in shares of Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after acquiring an additional 173 shares during the last quarter. Finally, Centerpoint Advisors LLC lifted its stake in shares of Rio Tinto Group by 110.0% in the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after acquiring an additional 275 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Down 2.3 %

Shares of Rio Tinto Group stock traded down $1.45 during mid-day trading on Friday, hitting $62.00. 1,048,661 shares of the stock were exchanged, compared to its average volume of 2,758,784. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09. The company has a 50-day simple moving average of $64.45 and a 200 day simple moving average of $65.07. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RIO. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Four equities research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

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.