5 Best Australian Stocks To Buy

2. Rio Tinto Group (NYSE:RIO)

Number of Hedge Fund Shareholders In Q3 2023: 25

Rio Tinto Group (NYSE:RIO) is a unique company since it is both an Australian and a British stock. The firm has two headquarters, and one is located in Australia. It scored a win in February 2024 when an Australian court ruled in its favor and threw out a suit by a Russian company that sought access to Australian aluminum.

By the end of last year’s third quarter, 25 out of the 910 hedge funds surveyed by Insider Monkey had bought and owned Rio Tinto Group (NYSE:RIO)’s shares. Ken Fisher’s Fisher Asset Management was the biggest investor as it held $990 million worth of shares.

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