Grayhawk Investment Strategies Inc. Increases Stake in Rio Tinto Group (NYSE:RIO) – Form 13F Filing Analysis
Are you curious about the latest investment moves in the mining industry? Grayhawk Investment Strategies Inc. recently made a significant purchase of Rio Tinto Group (NYSE:RIO) shares, adding to their portfolio. In the fourth quarter, the fund acquired 15,886 shares of the mining company’s stock, valued at approximately $1,183,000. This move positions Rio Tinto Group as the 28th largest holding in Grayhawk Investment Strategies Inc.’s portfolio, accounting for 0.6% of their total investments.
But Grayhawk Investment Strategies Inc. isn’t the only institutional investor showing interest in Rio Tinto Group. Wellington Management Group LLP, Fisher Asset Management LLC, Morgan Stanley, Acadian Asset Management LLC, and Northern Trust Corp have also increased their stakes in the company. With institutional investors now owning 19.33% of Rio Tinto Group’s stock, it’s clear that there is growing confidence in the company’s potential.
In terms of stock performance, Rio Tinto Group has been trading at $68.00 on the NYSE, with a 50-day moving average of $68.53. Analysts have been closely monitoring the company, with Citigroup downgrading their rating to “neutral” while StockNews.com upgraded Rio Tinto Group to a “strong-buy” rating. Overall, the stock has received a consensus rating of “Moderate Buy” with a price target of $72.00.
Rio Tinto Group, a global leader in exploring, mining, and processing mineral resources, operates across various segments including Iron Ore, Aluminium, Copper, and Minerals. With a strong presence in Western Australia, the company is involved in iron ore mining, alumina refining, and aluminium smelting.
If you’re interested in staying updated on Rio Tinto Group’s performance and the latest investment trends, be sure to check out HoldingsChannel.com for the most recent 13F filings and insider trades. And if you’re looking for new investment opportunities beyond Rio Tinto Group, MarketBeat has identified five top-rated stocks recommended by leading analysts.
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