Bridgewater Associates LP Buys 229,202 Shares of Rio Tinto Group (NYSE:RIO)

Bridgewater Associates LP raised its stake in 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. The institutional investor owned 254,765 shares of the mining company’s stock after purchasing an additional 229,202 shares during the period. Bridgewater Associates LP’s holdings in Rio Tinto Group were worth $18,132,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can grew its stake in Rio Tinto Group by 237.0% in the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after acquiring an additional 1,738,752 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in Rio Tinto Group during the 2nd quarter valued at $48,129,000. Fisher Asset Management LLC lifted its stake in shares of Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after buying an additional 485,731 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Rio Tinto Group during the third quarter worth about $33,590,000. Finally, Palliser Capital UK Ltd boosted its position in shares of Rio Tinto Group by 690.6% during the second quarter. Palliser Capital UK Ltd now owns 499,675 shares of the mining company’s stock valued at $32,944,000 after buying an additional 436,475 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Finally, StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Rio Tinto Group currently has an average rating of “Moderate Buy”.

Rio Tinto Group Price Performance

NYSE RIO opened at $62.32 on Thursday. The company’s 50 day simple moving average is $65.54 and its two-hundred day simple moving average is $65.66. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09.

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.