Courier Capital LLC Increases Holdings in Rio Tinto Group (NYSE:RIO)

Courier Capital LLC increased its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 72.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,174 shares of the mining company's stock after acquiring an additional 8,885 shares during the period. Courier Capital LLC's holdings in Rio Tinto Group were worth $1,272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rakuten Securities Inc. grew its position in 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. Mechanics Financial Corp bought a new position in shares of Rio Tinto Group in the fourth quarter worth approximately $29,000. Golden State Wealth Management LLC purchased a new stake in shares of Rio Tinto Group during the fourth quarter valued at approximately $47,000. Ameriflex Group Inc. bought a new stake in shares of Rio Tinto Group during the fourth quarter valued at approximately $47,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Rio Tinto Group during the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 19.33% of the company's stock.

Analyst Upgrades and Downgrades

RIO has been the topic of several analyst reports. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto Group in a report on Wednesday, April 16th. Morgan Stanley downgraded Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. DZ Bank upgraded shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Finally, Wall Street Zen lowered Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock traded up $0.14 on Tuesday, hitting $59.45. 2,804,468 shares of the company's stock were exchanged, compared to its average volume of 2,920,152. The company has a 50-day simple moving average of $59.16 and a 200-day simple moving average of $60.66. Rio Tinto Group has a 1 year low of $51.67 and a 1 year high of $72.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The stock has a market capitalization of $74.56 billion, a PE ratio of 9.22, a PEG ratio of 0.42 and a beta of 0.68.

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.