Palliser Capital UK Ltd grew its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 213.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 989,417 shares of the mining company's stock after buying an additional 674,117 shares during the period. Rio Tinto Group accounts for about 46.5% of Palliser Capital UK Ltd's investment portfolio, making the stock its largest position. Palliser Capital UK Ltd owned about 0.08% of Rio Tinto Group worth $58,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of RIO. Rhumbline Advisers grew its holdings in Rio Tinto Group by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 23,872 shares of the mining company's stock valued at $1,574,000 after buying an additional 962 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Rio Tinto Group by 6.5% in the second quarter. American Century Companies Inc. now owns 238,110 shares of the mining company's stock valued at $15,699,000 after purchasing an additional 14,506 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in Rio Tinto Group by 19.8% in the second quarter. J.W. Cole Advisors Inc. now owns 5,559 shares of the mining company's stock worth $367,000 after purchasing an additional 920 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Rio Tinto Group by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 128,617 shares of the mining company's stock worth $8,480,000 after purchasing an additional 4,023 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Rio Tinto Group by 78.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company's stock valued at $56,565,000 after buying an additional 376,778 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company's stock.
A number of brokerages recently issued reports on RIO. Berenberg Bank upgraded Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. StockNews.com cut shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 12th. Macquarie reissued a "neutral" rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group decreased their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $73.00.
Check Out Our Latest Analysis on Rio Tinto Group
Shares of NYSE:RIO opened at $60.48 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 firm has a 50 day moving average of $61.30 and a 200 day moving average of $63.66. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24.
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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