Rio Tinto Group (NYSE:RIO) Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its holdings in Rio Tinto Group (NYSE:RIO) by 6.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,586 shares of the mining company’s stock after acquiring an additional 2,459 shares during the period. Oppenheimer & Co. Inc.’s holdings in Rio Tinto Group were worth $2,746,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RIO. GHP Investment Advisors Inc. acquired a new stake in shares of Rio Tinto Group in the 2nd quarter valued at $26,000. Winch Advisory Services LLC acquired a new stake in Rio Tinto Group during the 3rd quarter worth approximately $26,000. FSC Wealth Advisors LLC purchased a new position in Rio Tinto Group in the 3rd quarter valued at $28,000. Sound Income Strategies LLC increased its stake in shares of Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after acquiring an additional 173 shares during the period. Finally, Centerpoint Advisors LLC raised its stake in shares of Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after buying an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy”.

Rio Tinto Group Price Performance

RIO opened at $60.98 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09. The stock’s 50 day moving average price is $65.44 and its 200 day moving average price is $66.05.

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.