Ritholtz Wealth Management Purchases 12,557 Shares of Rio Tinto Group (NYSE:RIO)

Ritholtz Wealth Management lifted its position in shares of Rio Tinto Group (NYSE:RIO) by 20.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,132 shares of the mining company’s stock after purchasing an additional 12,557 shares during the period. Ritholtz Wealth Management’s holdings in Rio Tinto Group were worth $4,419,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RIO. Winch Advisory Services LLC purchased a new stake in Rio Tinto Group during the third quarter worth about $26,000. FSC Wealth Advisors LLC purchased a new stake in Rio Tinto Group during the third quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in 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 during the last quarter. Sound Income Strategies LLC increased its holdings in Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after buying an additional 173 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Rio Tinto Group during the third quarter worth about $38,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

RIO has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. 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. Finally, Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. 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 Stock Performance

Shares of NYSE:RIO opened at $59.68 on Friday. The company has a 50 day moving average of $61.20 and a 200 day moving average of $63.64. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. 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 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.