Rio Tinto Group (NYSE:RIO) Shares Acquired by Rakuten Securities Inc.

Rakuten Securities Inc. boosted its position in shares of Rio Tinto Group (NYSE:RIO) by 581.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,358 shares of the mining company’s stock after buying an additional 2,865 shares during the period. Rakuten Securities Inc.’s holdings in Rio Tinto Group were worth $202,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of RIO. Mechanics Financial Corp bought a new position in shares of Rio Tinto Group during the 4th quarter valued at about $29,000. Bfsg LLC increased its holdings in shares of Rio Tinto Group by 5,754.5% in the first quarter. Bfsg LLC now owns 644 shares of the mining company’s stock valued at $39,000 after buying an additional 633 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Rio Tinto Group in the fourth quarter valued at $47,000. SJS Investment Consulting Inc. lifted its position in shares of Rio Tinto Group by 577.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 922 shares of the mining company’s stock valued at $55,000 after acquiring an additional 786 shares during the last quarter. Finally, WealthCollab LLC boosted its stake in shares of Rio Tinto Group by 35.9% during the 4th quarter. WealthCollab LLC now owns 1,029 shares of the mining company’s stock worth $61,000 after acquiring an additional 272 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. DZ Bank raised Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Morgan Stanley downgraded Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, April 9th. Wall Street Zen lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 28th. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, June 3rd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Price Performance

Shares of RIO opened at $58.30 on Tuesday. The business’s 50-day moving average is $59.58 and its 200-day moving average is $60.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The company has a market capitalization of $73.11 billion, a price-to-earnings ratio of 9.04, a P/E/G ratio of 0.42 and a beta of 0.68. Rio Tinto Group has a fifty-two week low of $51.67 and a fifty-two week high of $72.08.

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.