Forbes J M & Co. LLP Purchases 568 Shares of Rio Tinto Group (NYSE:RIO)

Forbes J M & Co. LLP grew its holdings in shares of Rio Tinto Group (NYSE:RIO) by 0.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 89,883 shares of the mining company’s stock after buying an additional 568 shares during the period. Forbes J M & Co. LLP’s holdings in Rio Tinto Group were worth $5,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Winch Advisory Services LLC bought a new stake in shares of Rio Tinto Group during the third quarter worth $26,000. FSC Wealth Advisors LLC bought a new position in Rio Tinto Group in the 3rd quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after acquiring an additional 195 shares during the period. Sound Income Strategies LLC raised its stake in shares of Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Rio Tinto Group during the third quarter valued at approximately $38,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Price Performance

Shares of NYSE:RIO opened at $61.96 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The business’s fifty day simple moving average is $60.72 and its 200-day simple moving average is $63.00.

Analyst Upgrades and Downgrades

Several research analysts have commented on RIO shares. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Jefferies Financial Group dropped their price target on 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. Finally, StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 25th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.