Park Avenue Securities LLC Has $846,000 Holdings in Rio Tinto Group (NYSE:RIO)

Park Avenue Securities LLC lifted its stake in Rio Tinto Group (NYSE:RIO) by 23.6% during the 4th quarter, HoldingsChannel reports. The fund owned 14,387 shares of the mining company’s stock after buying an additional 2,746 shares during the period. Park Avenue Securities LLC’s holdings in Rio Tinto Group were worth $846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of RIO. Bank of Montreal Can grew its position in Rio Tinto Group by 237.0% during the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after buying an additional 1,738,752 shares in the last quarter. Philip James Wealth Mangement LLC acquired a new stake in shares of Rio Tinto Group during the 3rd quarter worth approximately $1,345,000. Fisher Asset Management LLC increased its position in shares of Rio Tinto Group by 2.9% during 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 purchasing an additional 485,731 shares during the period. Barclays PLC raised its stake in shares of Rio Tinto Group by 225.6% in the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after purchasing an additional 232,539 shares in the last quarter. Finally, Northwest Bancshares Inc. bought a new position in Rio Tinto Group in the third quarter worth $1,440,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 1.2 %

NYSE RIO opened at $61.81 on Wednesday. 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 stock has a 50-day simple moving average of $60.95 and a 200 day simple moving average of $63.48.

Analyst Ratings Changes

A number of research firms recently weighed in on RIO. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Macquarie reissued 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 on the stock in a research note on Monday, January 6th. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 17th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.