Rio Tinto Group (NYSE:RIO) Holdings Raised by Mitchell & Pahl Private Wealth LLC

Mitchell & Pahl Private Wealth LLC increased its position in shares of Rio Tinto Group (NYSE:RIO) by 7.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,799 shares of the mining company’s stock after purchasing an additional 984 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Rio Tinto Group were worth $812,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RIO. Bank of Montreal Can lifted its position in shares of Rio Tinto Group by 237.0% in the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after buying an additional 1,738,752 shares during the last quarter. Philip James Wealth Mangement LLC acquired a new stake in Rio Tinto Group during the third quarter worth about $1,345,000. Fisher Asset Management LLC lifted its holdings in Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after acquiring an additional 485,731 shares during the last quarter. Barclays PLC lifted its holdings in Rio Tinto Group by 225.6% in the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock worth $23,888,000 after acquiring an additional 232,539 shares during the last quarter. Finally, Northwest Bancshares Inc. acquired a new position in Rio Tinto Group in the third quarter valued at approximately $1,440,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

RIO has been the topic of a number of research reports. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group dropped their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto Group has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Price Performance

RIO opened at $61.00 on Tuesday. The stock’s 50 day moving average price is $60.98 and its 200 day moving average price is $63.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24.

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.