Rio Tinto Group (NYSE:RIO) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital boosted its holdings in Rio Tinto Group (NYSE:RIO) by 16.9% during the 4th quarter, Holdings Channel reports. The fund owned 3,451 shares of the mining company’s stock after acquiring an additional 499 shares during the quarter. Wedmont Private Capital’s holdings in Rio Tinto Group were worth $203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in RIO. Fisher Asset Management LLC grew its stake 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 worth $1,247,475,000 after purchasing an additional 485,731 shares in the last quarter. Bank of Montreal Can lifted its holdings in Rio Tinto Group by 237.0% in the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after purchasing an additional 1,738,752 shares during the period. FMR LLC grew its position in Rio Tinto Group by 35.1% in the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after buying an additional 358,630 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in Rio Tinto Group by 9.8% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company’s stock valued at $66,341,000 after buying an additional 83,569 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Rio Tinto Group by 78.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock worth $56,565,000 after buying an additional 376,778 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RIO has been the subject of several recent analyst reports. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Jefferies Financial Group decreased their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Four analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Up 2.0 %

Shares of NYSE:RIO opened at $61.00 on Friday. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. The company has a 50 day moving average price of $61.05 and a 200 day moving average price of $63.61. 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 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.