Bridgewater Associates LP Increases Stock Position in Rio Tinto Group (NYSE:RIO)

Bridgewater Associates LP raised its stake in shares of Rio Tinto Group (NYSE:RIO) by 896.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 254,765 shares of the mining company’s stock after purchasing an additional 229,202 shares during the quarter. Bridgewater Associates LP’s holdings in Rio Tinto Group were worth $18,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Townsquare Capital LLC increased its stake in Rio Tinto Group by 13.4% in the third quarter. Townsquare Capital LLC now owns 5,399 shares of the mining company’s stock valued at $384,000 after acquiring an additional 637 shares during the last quarter. FMR LLC boosted its stake in Rio Tinto Group by 35.1% in the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock worth $98,340,000 after buying an additional 358,630 shares in the last quarter. Horizon Kinetics Asset Management LLC grew its position in Rio Tinto Group by 106.0% during the third quarter. Horizon Kinetics Asset Management LLC now owns 16,266 shares of the mining company’s stock valued at $1,158,000 after acquiring an additional 8,370 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after purchasing an additional 485,731 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its stake in Rio Tinto Group by 14.9% in the third quarter. Kingsview Wealth Management LLC now owns 5,319 shares of the mining company’s stock worth $379,000 after purchasing an additional 690 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

RIO opened at $62.32 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The stock’s 50 day moving average price is $65.54 and its 200-day moving average price is $65.66. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09.

Analysts Set New Price Targets

RIO has been the topic of several analyst reports. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Four investment 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 company presently has a consensus rating of “Moderate Buy”.

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.