Persium Advisors LLC Buys 1,568 Shares of Rio Tinto Group (NYSE:RIO)

Persium Advisors LLC grew its holdings in shares of Rio Tinto Group (NYSE:RIO) by 21.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,746 shares of the mining company’s stock after purchasing an additional 1,568 shares during the period. Persium Advisors LLC’s holdings in Rio Tinto Group were worth $525,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Rio Tinto Group by 2.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock valued at $477,000 after purchasing an additional 160 shares during the last quarter. Capital Analysts LLC lifted its holdings in shares of Rio Tinto Group by 6.0% during the 4th quarter. Capital Analysts LLC now owns 2,886 shares of the mining company’s stock valued at $170,000 after purchasing an additional 163 shares during the last quarter. Nemes Rush Group LLC lifted its holdings in shares of Rio Tinto Group by 10.0% during the 4th quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company’s stock valued at $109,000 after purchasing an additional 169 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Rio Tinto Group by 74.8% during the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after purchasing an additional 211 shares during the last quarter. Finally, Gallacher Capital Management LLC lifted its holdings in shares of Rio Tinto Group by 4.1% during the 4th quarter. Gallacher Capital Management LLC now owns 5,539 shares of the mining company’s stock valued at $326,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

RIO has been the topic of several research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating on the stock. Morgan Stanley downgraded shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. Barclays restated an “overweight” rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. Wall Street Zen lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 28th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday. Four research analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Stock Performance

Shares of RIO stock opened at $59.03 on Friday. The stock has a market cap of $74.03 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 0.42 and a beta of 0.68. The business has a 50-day simple moving average of $59.17 and a 200-day simple moving average of $60.71. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52-week low of $51.67 and a 52-week high of $72.08.

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.