GAMMA Investing LLC Has $88,000 Holdings in Rio Tinto Group (NYSE:RIO)

GAMMA Investing LLC decreased its stake in shares of Rio Tinto Group (NYSE:RIO) by 21.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,384 shares of the mining company’s stock after selling 376 shares during the period. GAMMA Investing LLC’s holdings in Rio Tinto Group were worth $88,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in RIO. Wellington Management Group LLP raised its position in shares of Rio Tinto Group by 41.0% during the third quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock worth $1,476,052,000 after acquiring an additional 6,748,799 shares during the last quarter. SPX Gestao de Recursos Ltda lifted its position in Rio Tinto Group by 560.8% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 791,933 shares of the mining company’s stock valued at $58,967,000 after purchasing an additional 672,095 shares during the period. Fisher Asset Management LLC lifted its position in Rio Tinto Group by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock valued at $1,194,751,000 after purchasing an additional 475,329 shares during the period. Van ECK Associates Corp grew its position in shares of Rio Tinto Group by 191.3% during the 4th quarter. Van ECK Associates Corp now owns 715,829 shares of the mining company’s stock worth $53,301,000 after buying an additional 470,073 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in shares of Rio Tinto Group by 160.2% during the third quarter. Qube Research & Technologies Ltd now owns 581,714 shares of the mining company’s stock worth $37,020,000 after buying an additional 358,121 shares during the last quarter. 19.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on RIO. Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Finally, Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Rio Tinto Group Price Performance

RIO opened at $66.40 on Monday. The firm’s fifty day moving average price is $68.84 and its two-hundred day moving average price is $68.23. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1 year low of $58.27 and a 1 year high of $75.09.

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.