Rio Tinto Group (NYSE:RIO) Stock Position Increased by Viking Fund Management LLC

Viking Fund Management LLC lifted its position in Rio Tinto Group (NYSE:RIO) by 14,385.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,700 shares of the mining company’s stock after acquiring an additional 50,350 shares during the quarter. Viking Fund Management LLC’s holdings in Rio Tinto Group were worth $3,232,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in RIO. Northwest Investment Counselors LLC acquired a new stake in shares of Rio Tinto Group in the 1st quarter valued at $26,000. AdvisorNet Financial Inc increased its holdings in shares of Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after acquiring an additional 330 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Rio Tinto Group by 39.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock valued at $41,000 after acquiring an additional 156 shares during the last quarter. Financial Management Professionals Inc. raised its stake in shares of Rio Tinto Group by 250.6% in the 4th quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after acquiring an additional 441 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in Rio Tinto Group in the 4th quarter worth approximately $47,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Down 1.6 %

NYSE RIO traded down $1.06 on Thursday, reaching $65.74. The company’s stock had a trading volume of 1,565,704 shares, compared to its average volume of 2,739,308. Rio Tinto Group has a 52 week low of $58.27 and a 52 week high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The business has a 50-day moving average price of $68.85 and a 200 day moving average price of $68.17.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup cut shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

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.