Hamilton Point Investment Advisors LLC Acquires 777 Shares of Rio Tinto Group (NYSE:RIO)

Hamilton Point Investment Advisors LLC boosted its holdings in shares of Rio Tinto Group (NYSE:RIO – Get Rating) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,059 shares of the mining company’s stock after buying an additional 777 shares during the quarter. Hamilton Point Investment Advisors LLC’s holdings in Rio Tinto Group were worth $2,371,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Castle Wealth Management LLC bought a new stake in Rio Tinto Group during the second quarter valued at approximately $26,000. Tortoise Investment Management LLC bought a new stake in Rio Tinto Group during the second quarter valued at approximately $27,000. Twin Lakes Capital Management LLC bought a new stake in Rio Tinto Group during the third quarter valued at approximately $28,000. Larson Financial Group LLC purchased a new position in Rio Tinto Group during the second quarter valued at approximately $33,000. Finally, Ronald Blue Trust Inc. purchased a new position in Rio Tinto Group during the second quarter valued at approximately $50,000. 10.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RIO. JPMorgan Chase & Co. lifted their price target on shares of Rio Tinto Group from GBX 5,310 ($65.58) to GBX 5,380 ($66.44) in a report on Wednesday, January 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Rio Tinto Group from GBX 5,800 ($71.63) to GBX 6,200 ($76.57) in a report on Tuesday, January 10th. Morgan Stanley lifted their price target on shares of Rio Tinto Group from GBX 5,750 ($71.01) to GBX 5,790 ($71.51) in a report on Monday, January 23rd. Berenberg Bank raised shares of Rio Tinto Group from a “sell” rating to a “buy” rating in a report on Thursday, January 12th. Finally, Barclays raised shares of Rio Tinto Group from an “underweight” rating to an “equal weight” rating in a report on Thursday, January 12th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Hold” and a consensus price target of $4,360.00.

Rio Tinto Group Trading Down 4.9 %

Shares of RIO stock traded down $3.84 during mid-day trading on Thursday, hitting $75.25. The company had a trading volume of 2,902,067 shares, compared to its average volume of 2,774,071. The stock’s 50 day moving average price is $72.92 and its 200-day moving average price is $63.08. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.79 and a quick ratio of 1.34. Rio Tinto Group has a 52-week low of $50.92 and a 52-week high of $84.69.

Rio Tinto Group Company Profile

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Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.