MKT Advisors LLC Raises Stock Position in Rio Tinto Group (NYSE:RIO)

MKT Advisors LLC raised its position in shares of Rio Tinto Group (NYSE:RIO) by 6.8% in the fourth quarter, HoldingsChannel reports. The firm owned 4,690 shares of the mining company’s stock after acquiring an additional 300 shares during the period. MKT Advisors LLC’s holdings in Rio Tinto Group were worth $287,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RIO. Armstrong Advisory Group Inc. raised its stake in shares of Rio Tinto Group by 9.6% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock worth $129,000 after acquiring an additional 159 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Rio Tinto Group by 70.9% during the 3rd 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. Concurrent Investment Advisors LLC boosted its position in shares of Rio Tinto Group by 4.3% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock worth $303,000 after purchasing an additional 175 shares in the last quarter. Fiduciary Financial Group LLC grew its stake in Rio Tinto Group by 3.7% during the 3rd quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock worth $330,000 after buying an additional 178 shares during the last quarter. Finally, Stonegate Investment Group LLC grew its stake in Rio Tinto Group by 3.4% during the 3rd quarter. Stonegate Investment Group LLC now owns 5,467 shares of the mining company’s stock worth $389,000 after buying an additional 179 shares during the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Up 0.9 %

Shares of NYSE RIO opened at $62.11 on Friday. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The business’s 50 day moving average price is $61.02 and its 200 day moving average price is $63.37. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

RIO has been the subject of a number of research analyst reports. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. 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, Jefferies Financial Group lowered their price objective 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. Four 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.