Rio Tinto Group (NYSE:RIO) Position Boosted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its position in Rio Tinto Group (NYSE:RIO) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,232 shares of the mining company’s stock after buying an additional 3,299 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Rio Tinto Group were worth $3,719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Rio Tinto Group by 12.2% during the fourth quarter. GAMMA Investing LLC now owns 1,861 shares of the mining company’s stock valued at $109,000 after buying an additional 203 shares during the last quarter. SPX Gestao de Recursos Ltda raised its stake in Rio Tinto Group by 1,773.2% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after acquiring an additional 404,131 shares in the last quarter. DGS Capital Management LLC boosted its position in Rio Tinto Group by 22.2% during the 3rd quarter. DGS Capital Management LLC now owns 16,797 shares of the mining company’s stock worth $1,195,000 after acquiring an additional 3,057 shares during the period. Tidal Investments LLC grew its stake in shares of Rio Tinto Group by 16.2% in the third quarter. Tidal Investments LLC now owns 122,623 shares of the mining company’s stock worth $8,727,000 after purchasing an additional 17,052 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Rio Tinto Group during the third quarter valued at $218,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

Shares of NYSE RIO opened at $60.41 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The business’s 50-day moving average price is $61.30 and its two-hundred day moving average price is $63.66. The company has a market capitalization of $75.69 billion, a P/E ratio of 8.77, a price-to-earnings-growth ratio of 0.38 and a beta of 0.66.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group cut their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Rio Tinto Group has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.