Massachusetts Financial Services Co. MA Has $9.40 Million Stock Position in Rio Tinto Group (NYSE:RIO)

Massachusetts Financial Services Co. MA raised its holdings in shares of Rio Tinto Group (NYSE:RIO) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,141 shares of the mining company’s stock after buying an additional 3,524 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Rio Tinto Group were worth $9,404,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RIO. Armstrong Advisory Group Inc. raised its holdings in Rio Tinto Group by 9.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock valued at $129,000 after acquiring an additional 159 shares in the last quarter. Eagle Bluffs Wealth Management LLC increased its position in shares of Rio Tinto Group by 1.1% during the second quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock valued at $989,000 after purchasing an additional 163 shares during the period. Sound Income Strategies LLC raised its stake in shares of Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in Rio Tinto Group by 4.3% in the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock worth $303,000 after purchasing an additional 175 shares during the period. Finally, Fiduciary Financial Group LLC boosted its stake in Rio Tinto Group by 3.7% during the third quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock worth $330,000 after buying an additional 178 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on RIO shares. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Down 1.5 %

Shares of Rio Tinto Group stock opened at $62.02 on Wednesday. The firm’s 50-day moving average price is $65.55 and its two-hundred day moving average price is $65.68. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09.

About Rio Tinto Group

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.