MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Buys 180,874 Shares of Rio Tinto Group (NYSE:RIO)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in Rio Tinto Group (NYSE:RIO) by 22.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 978,859 shares of the mining company’s stock after acquiring an additional 180,874 shares during the quarter. Rio Tinto Group accounts for about 2.3% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s portfolio, making the stock its 6th biggest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned 0.08% of Rio Tinto Group worth $62,392,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in RIO. Northwest Investment Counselors LLC acquired a new stake in Rio Tinto Group in the 1st quarter valued at $26,000. AdvisorNet Financial Inc lifted its holdings in Rio Tinto Group by 785.7% in the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after purchasing an additional 330 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Rio Tinto Group by 39.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock valued at $41,000 after purchasing an additional 156 shares in the last quarter. Financial Management Professionals Inc. lifted its holdings in 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 purchasing an additional 441 shares in the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new position in Rio Tinto Group in the 4th quarter valued at $47,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Down 0.6 %

RIO stock traded down $0.40 during trading on Tuesday, hitting $66.01. 1,717,058 shares of the company’s stock were exchanged, compared to its average volume of 2,721,528. The business has a 50-day moving average price of $68.79 and a two-hundred day moving average price of $68.06. The stock has a market capitalization of $82.68 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 6.98 and a beta of 0.67. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Berenberg Bank lowered Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Citigroup downgraded Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Finally, Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Four 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

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.