6,051 Shares in Rio Tinto Group (NYSE:RIO) Bought by Aigen Investment Management LP

Aigen Investment Management LP bought a new stake in Rio Tinto Group (NYSE:RIO) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,051 shares of the mining company’s stock, valued at approximately $431,000.

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

Analyst Upgrades and Downgrades

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

Rio Tinto Group Stock Performance

Shares of RIO stock opened at $60.42 on Friday. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The stock has a market cap of $75.69 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 0.36 and a beta of 0.67. The business has a 50-day simple moving average of $65.42 and a 200-day simple moving average of $66.15.

About Rio Tinto Group

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.