Rio Tinto Group (OTCMKTS:RTNTF) Stock Jumps 5.7% – Still a Buy?

Shares of Rio Tinto Group (OTCMKTS:RTNTF) shot up 5.7% during mid-day trading on Friday. The company traded as high as $121.15 and last traded at $121.15. 834 shares traded hands during mid-day trading, an increase of 6% from the average daily volume of 790 shares. The stock had previously closed at $114.66.

Rio Tinto Group Trading Up 5.7%

The stock has a fifty day simple moving average of $120.75 and a 200 day simple moving average of $120.35.

Institutional Trading of Rio Tinto Group

An institutional investor recently bought a new stake in Rio Tinto Group stock. Pin Oak Investment Advisors Inc. bought a new stake in shares of Rio Tinto Group (OTCMKTS:RTNTF) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,133 shares of the company’s stock, valued at approximately $108,000. Institutional investors own 4.35% of the company’s stock.

Rio Tinto Group Company Profile

Rio Tinto Group is a global mining and metals company that explores, develops, and operates mineral resources. Its principal products include iron ore, aluminum, copper, lithium, and other minerals used in construction, transportation, manufacturing, and energy technologies.

The company’s aluminum business spans bauxite mining, alumina refining, and aluminum smelting. Rio Tinto also operates large iron ore mines and related infrastructure, along with copper and other mineral projects. Its operations and development activities extend across Australia, Canada, the United States, Mongolia, Guinea, Chile, and other regions.

Rio Tinto traces its origins to the development of the Rio Tinto mines in Spain in the 19th century.