Horizon Kinetics Asset Management LLC Increases Stock Holdings in Rio Tinto Group (NYSE:RIO)

Horizon Kinetics Asset Management LLC boosted its holdings in shares of Rio Tinto Group (NYSE:RIO) by 106.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,266 shares of the mining company’s stock after buying an additional 8,370 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Rio Tinto Group were worth $1,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. increased its holdings in shares of Rio Tinto Group by 9.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock valued at $129,000 after acquiring an additional 159 shares in the last quarter. Eagle Bluffs Wealth Management LLC increased its stake in Rio Tinto Group by 1.1% during the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock valued at $989,000 after purchasing an additional 163 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of 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 raised 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 worth $303,000 after buying an additional 175 shares during the last quarter. Finally, Fiduciary Financial Group LLC lifted its stake in shares of Rio Tinto Group by 3.7% during the third quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock worth $330,000 after buying an additional 178 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Up 1.0 %

NYSE RIO opened at $62.97 on Tuesday. The stock has a 50-day simple moving average of $65.57 and a two-hundred day simple moving average of $65.74. 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 fifty-two week low of $59.35 and a fifty-two week high of $75.09.

Wall Street Analyst Weigh In

RIO has been the topic of several research reports. Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

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.