BNP Paribas Boosts Stake in Rio Tinto Group (NYSE:RIO)

BNP Paribas increased its stake in shares of Rio Tinto Group (NYSE:RIO) by 23.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,330 shares of the mining company’s stock after purchasing an additional 250 shares during the period. BNP Paribas’ holdings in Rio Tinto Group were worth $95,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Winch Advisory Services LLC acquired a new stake in shares of Rio Tinto Group in the 3rd quarter valued at $26,000. GHP Investment Advisors Inc. purchased a new stake in shares of Rio Tinto Group in the second quarter valued at about $26,000. FSC Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group in the third quarter valued at about $28,000. Sound Income Strategies LLC lifted its stake in shares of Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares during the period. Finally, Centerpoint Advisors LLC lifted its stake in shares of Rio Tinto Group by 110.0% in the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after purchasing an additional 275 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Trading Up 0.5 %

Shares of RIO opened at $62.32 on Thursday. 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 company has a 50-day moving average of $65.54 and a two-hundred day moving average of $65.66. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09.

Analyst Upgrades and Downgrades

Several analysts recently commented on RIO shares. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average 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.