Massachusetts Financial Services Co. MA Acquires 3,524 Shares of Rio Tinto Group (NYSE:RIO)

Massachusetts Financial Services Co. MA increased its stake in shares of Rio Tinto Group (NYSE:RIO) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,141 shares of the mining company’s stock after buying an additional 3,524 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Rio Tinto Group were worth $9,404,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in RIO. Winch Advisory Services LLC bought a new stake in shares of Rio Tinto Group during the third quarter worth $26,000. GHP Investment Advisors Inc. bought a new stake in Rio Tinto Group during the 2nd quarter worth about $26,000. FSC Wealth Advisors LLC bought a new stake in Rio Tinto Group during the 3rd quarter worth about $28,000. Sound Income Strategies LLC lifted its position in Rio Tinto Group by 70.9% during the 3rd 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 boosted its stake in shares of Rio Tinto Group by 110.0% in the 2nd 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 last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Down 1.5 %

Shares of RIO stock opened at $62.02 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09. The firm has a fifty day moving average of $65.55 and a 200-day moving average of $65.68.

Analysts Set New Price Targets

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