Union Bancaire Privee UBP SA Takes Position in Rio Tinto Group (NYSE:RIO)

Union Bancaire Privee UBP SA acquired a new stake in shares of Rio Tinto Group (NYSE:RIO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 19,582 shares of the mining company’s stock, valued at approximately $1,140,000.

Other hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC boosted its holdings in Rio Tinto Group by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after buying an additional 485,731 shares during the period. FMR LLC boosted its holdings in Rio Tinto Group by 35.1% in the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock worth $98,340,000 after buying an additional 358,630 shares during the period. Palliser Capital UK Ltd boosted its holdings in Rio Tinto Group by 213.8% in the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after buying an additional 674,117 shares during the period. Van ECK Associates Corp boosted its holdings in Rio Tinto Group by 10.7% in the 3rd quarter. Van ECK Associates Corp now owns 693,102 shares of the mining company’s stock worth $49,328,000 after buying an additional 67,213 shares during the period. Finally, SPX Gestao de Recursos Ltda boosted its holdings in Rio Tinto Group by 1,773.2% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock worth $30,384,000 after buying an additional 404,131 shares during the period. Institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

RIO has been the subject of several recent analyst reports. Jefferies Financial Group dropped their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Rio Tinto Group has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Stock Down 1.3 %

Shares of RIO stock opened at $63.43 on Monday. The stock has a market cap of $79.47 billion, a P/E ratio of 9.83, a PEG ratio of 0.42 and a beta of 0.65. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The company’s fifty day simple moving average is $60.61 and its two-hundred day simple moving average is $62.94.

Rio Tinto Group 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.