Peapack Gladstone Financial Corp Boosts Stake in Rio Tinto Group (NYSE:RIO)

Peapack Gladstone Financial Corp grew its stake in Rio Tinto Group (NYSE:RIOFree Report) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,203 shares of the mining company’s stock after buying an additional 340 shares during the period. Peapack Gladstone Financial Corp’s holdings in Rio Tinto Group were worth $1,281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in RIO. AdvisorNet Financial Inc raised its holdings in shares of Rio Tinto Group by 785.7% during the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after purchasing an additional 330 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in Rio Tinto Group by 39.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock valued at $41,000 after buying an additional 156 shares in the last quarter. Financial Management Professionals Inc. increased its holdings in Rio Tinto Group by 250.6% in the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after buying an additional 441 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Rio Tinto Group in the fourth quarter valued at $47,000. Finally, Bogart Wealth LLC increased its holdings in Rio Tinto Group by 279.3% in the fourth quarter. Bogart Wealth LLC now owns 679 shares of the mining company’s stock valued at $51,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Down 0.3 %

Shares of RIO opened at $68.09 on Thursday. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09. The firm’s 50 day moving average price is $68.33 and its 200 day moving average price is $68.44. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23.

Analyst Ratings Changes

Several brokerages have recently issued reports on RIO. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Finally, Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.00.

View Our Latest Analysis on Rio Tinto Group

About Rio Tinto Group

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Rio Tinto Group (NYSE:RIO)

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