Hara Capital LLC Buys Shares of 738 Rio Tinto Group (NYSE:RIO)

Hara Capital LLC bought a new stake in Rio Tinto Group (NYSE:RIO) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 738 shares of the mining company’s stock, valued at approximately $53,000.

A number of other institutional investors also recently bought and sold shares of RIO. Bank of Montreal Can lifted its holdings in Rio Tinto Group by 237.0% in the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after acquiring an additional 1,738,752 shares during the period. National Bank of Canada FI lifted its holdings in Rio Tinto Group by 296.2% in the first quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock valued at $71,382,000 after acquiring an additional 764,635 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in Rio Tinto Group in the second quarter valued at about $48,129,000. Mediolanum International Funds Ltd bought a new position in shares of Rio Tinto Group in the third quarter worth about $33,590,000. Finally, Palliser Capital UK Ltd raised its stake in shares of Rio Tinto Group by 690.6% in the second quarter. Palliser Capital UK Ltd now owns 499,675 shares of the mining company’s stock worth $32,944,000 after buying an additional 436,475 shares during the period. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $67.48 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09. The stock has a 50-day moving average price of $65.29 and a 200 day moving average price of $66.30.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RIO shares. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Finally, HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Rio Tinto Group presently has an average rating of “Moderate Buy”.

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.