5 Best Gold Stocks to Buy for Portfolio Diversification

4. Rio Tinto Group (NYSE:RIO)

Number of Hedge Fund Holders: 29

Rio Tinto Group (NYSE:RIO) explores, mines, and processes mineral resources, including gold, diamonds, and copper. It is based in London, United Kingdom.

On March 30, Richard Hatch at Berenberg reiterated a Buy rating on Rio Tinto Group (NYSE:RIO) shares.

An average price target of $95.64 has been placed on Rio Tinto Group (NYSE:RIO) shares by analysts on Wall Street. The shares were trading at $63.29 on April 27. This gives the stock an upside potential of 51.21%.

There were 29 hedge funds long Rio Tinto Group (NYSE:RIO) in the fourth quarter, with a total stake value of $2.6 billion.

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