Cerity Partners LLC Acquires 11,558 Shares of Rio Tinto Group (NYSE:RIO)

Cerity Partners LLC grew its holdings in shares of Rio Tinto Group (NYSE:RIO) by 26.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 55,078 shares of the mining company’s stock after acquiring an additional 11,558 shares during the quarter. Cerity Partners LLC’s holdings in Rio Tinto Group were worth $3,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in RIO. GHP Investment Advisors Inc. bought a new position in Rio Tinto Group during the second quarter valued at about $26,000. Winch Advisory Services LLC bought a new position in shares of Rio Tinto Group during the 3rd quarter valued at approximately $26,000. FSC Wealth Advisors LLC purchased a new stake in shares of Rio Tinto Group during the 3rd quarter worth approximately $28,000. Sound Income Strategies LLC lifted its stake in Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares during the last quarter. Finally, Centerpoint Advisors LLC increased its position in Rio Tinto Group by 110.0% in the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after buying an additional 275 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on RIO. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

Shares of NYSE:RIO opened at $62.85 on Friday. The company has a 50 day moving average of $65.46 and a 200 day moving average of $65.59. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

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.