Abel Hall LLC Grows Holdings in Rio Tinto Group (NYSE:RIO)

Abel Hall LLC raised its position in shares of Rio Tinto Group (NYSE:RIO) by 4.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,178 shares of the mining company’s stock after purchasing an additional 285 shares during the quarter. Abel Hall LLC’s holdings in Rio Tinto Group were worth $363,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Fisher Asset Management LLC lifted its position in shares of 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 valued at $1,247,475,000 after acquiring an additional 485,731 shares in the last quarter. FMR LLC boosted its position in shares of Rio Tinto Group by 35.1% during the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock worth $98,340,000 after acquiring an additional 358,630 shares during the last quarter. Palliser Capital UK Ltd grew its stake in Rio Tinto Group by 213.8% during the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after acquiring an additional 674,117 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in Rio Tinto Group by 9.8% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company’s stock worth $66,341,000 after purchasing an additional 83,569 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Rio Tinto Group by 10.7% during the 3rd quarter. Van ECK Associates Corp now owns 693,102 shares of the mining company’s stock valued at $49,328,000 after purchasing an additional 67,213 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of research analyst reports. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Jefferies Financial Group reduced their price target 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. Finally, StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 25th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Price Performance

Shares of RIO opened at $59.64 on Thursday. 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 fifty day moving average of $60.96 and a 200 day moving average of $63.21. Rio Tinto Group has a 52-week low of $57.85 and a 52-week 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.