Philip James Wealth Mangement LLC Has $1.32 Million Stock Holdings in Rio Tinto Group (NYSE:RIO)

Philip James Wealth Mangement LLC raised its holdings in shares of Rio Tinto Group (NYSE:RIO) by 18.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,424 shares of the mining company’s stock after purchasing an additional 3,530 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in Rio Tinto Group were worth $1,319,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Winch Advisory Services LLC acquired a new stake in shares of Rio Tinto Group during the third quarter worth $26,000. FSC Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group during the third quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after buying an additional 195 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Rio Tinto Group during the third quarter worth $38,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Rio Tinto Group during the fourth quarter worth $47,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.1 %

Shares of NYSE RIO opened at $63.38 on Monday. 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 has a 52 week low of $57.85 and a 52 week high of $74.24. The stock’s fifty day moving average is $60.65 and its 200 day moving average is $62.94.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RIO shares. Jefferies Financial Group dropped their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Four equities research 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.com, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.