20,238 Shares in Rio Tinto Group (NYSE:RIO) Bought by Northwest Bancshares Inc.

Northwest Bancshares Inc. purchased a new position in Rio Tinto Group (NYSE:RIO – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 20,238 shares of the mining company’s stock, valued at approximately $1,440,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. bought a new position in Rio Tinto Group in the second quarter worth $26,000. Winch Advisory Services LLC bought a new position in Rio Tinto Group in the third quarter worth $26,000. FSC Wealth Advisors LLC bought a new position in Rio Tinto Group in the third quarter worth $28,000. Sound Income Strategies LLC raised its holdings in Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after purchasing an additional 173 shares in the last quarter. Finally, Centerpoint Advisors LLC raised its holdings in Rio Tinto Group by 110.0% in the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $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.

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Rio Tinto Group Price Performance

Shares of NYSE:RIO opened at $62.42 on Wednesday. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The business has a fifty day moving average price of $65.54 and a 200-day moving average price of $65.94.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. StockNews.com downgraded 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 report on Tuesday, July 23rd. Finally, Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Four 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Check Out Our Latest Report on RIO

Rio Tinto Group Profile

(Free Report)

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.

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