Rio Tinto Group (NYSE:RIO) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its holdings in Rio Tinto Group (NYSE:RIO) by 5.7% in the third quarter, HoldingsChannel reports. The firm owned 147,341 shares of the mining company’s stock after buying an additional 7,897 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Rio Tinto Group were worth $10,486,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RIO. Russell Investments Group Ltd. grew its holdings in Rio Tinto Group by 0.4% during the 1st quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock worth $2,547,000 after acquiring an additional 147 shares in the last quarter. Armstrong Advisory Group Inc. increased its holdings in Rio Tinto Group by 9.6% in the third quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock valued at $129,000 after buying an additional 159 shares during the last quarter. Eagle Bluffs Wealth Management LLC raised its stake in Rio Tinto Group by 1.1% in the second quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock valued at $989,000 after buying an additional 163 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Rio Tinto Group by 2.4% during the 1st quarter. Bessemer Group Inc. now owns 7,304 shares of the mining company’s stock worth $465,000 after buying an additional 169 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its position in shares of Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after acquiring an additional 173 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Ratings Changes

RIO has been the topic of several research analyst reports. Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Trading Down 0.9 %

Shares of NYSE RIO opened at $60.62 on Thursday. Rio Tinto Group has a twelve month low of $59.35 and a twelve month high of $75.09. The stock has a 50 day moving average of $65.41 and a two-hundred day moving average of $66.19. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

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.