Rio Tinto Group (NYSE:RIO) Stock Position Raised by PFG Investments LLC

PFG Investments LLC boosted its holdings in Rio Tinto Group (NYSE:RIO) by 18.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,194 shares of the mining company’s stock after acquiring an additional 655 shares during the period. PFG Investments LLC’s holdings in Rio Tinto Group were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Philip James Wealth Mangement LLC bought a new stake in shares of Rio Tinto Group in the 3rd quarter worth approximately $1,345,000. Fisher Asset Management LLC lifted its stake in 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 buying an additional 485,731 shares during the last quarter. Northwest Bancshares Inc. acquired a new position in shares of Rio Tinto Group during the third quarter valued at $1,440,000. Barclays PLC grew its position in shares of Rio Tinto Group by 225.6% during the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock worth $23,888,000 after acquiring an additional 232,539 shares during the last quarter. Finally, Marshall Financial Group LLC acquired a new stake in shares of Rio Tinto Group in the 4th quarter worth about $810,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Trading Down 0.8 %

NYSE:RIO opened at $60.39 on Friday. 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 company has a 50-day moving average of $60.87 and a 200-day moving average of $63.17. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24.

Wall Street Analyst Weigh In

RIO has been the subject of a number of analyst reports. Jefferies Financial Group reduced their target price on shares of 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. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 25th. Finally, Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.