Rio Tinto Group (NYSE:RIO) Shares Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC increased its position in shares of Rio Tinto Group (NYSE:RIO) by 81.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 10,832 shares of the mining company’s stock after acquiring an additional 4,855 shares during the quarter. Perigon Wealth Management LLC’s holdings in Rio Tinto Group were worth $648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. grew its stake in shares of Rio Tinto Group by 9.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock worth $129,000 after purchasing an additional 159 shares during the last quarter. Sound Income Strategies LLC grew its position in Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after buying an additional 173 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of Rio Tinto Group by 4.3% in the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock valued at $303,000 after buying an additional 175 shares in the last quarter. Fiduciary Financial Group LLC lifted its position in shares of Rio Tinto Group by 3.7% during the 3rd quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock valued at $330,000 after acquiring an additional 178 shares during the last quarter. Finally, Stonegate Investment Group LLC boosted its stake in shares of Rio Tinto Group by 3.4% during the 3rd quarter. Stonegate Investment Group LLC now owns 5,467 shares of the mining company’s stock worth $389,000 after acquiring an additional 179 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 25th. Finally, Jefferies Financial Group dropped their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Down 0.8 %

Shares of NYSE RIO opened at $60.39 on Friday. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The business has a 50-day moving average price of $60.87 and a two-hundred day moving average price of $63.17.

Rio Tinto Group Company Profile

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.