Naples Global Advisors LLC Buys 3,461 Shares of Rio Tinto Group (NYSE:RIO)

Naples Global Advisors LLC raised its position in Rio Tinto Group (NYSE:RIO) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 100,098 shares of the mining company’s stock after purchasing an additional 3,461 shares during the period. Naples Global Advisors LLC’s holdings in Rio Tinto Group were worth $5,887,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC increased its position in shares of Rio Tinto Group by 4.3% during 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 during the last quarter. Stonegate Investment Group LLC grew its stake in shares of Rio Tinto Group by 3.4% in the third quarter. Stonegate Investment Group LLC now owns 5,467 shares of the mining company’s stock valued at $389,000 after buying an additional 179 shares in the last quarter. 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. Cohen Investment Advisors LLC raised its position in Rio Tinto Group by 3.8% during the fourth quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock worth $315,000 after acquiring an additional 198 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its stake in Rio Tinto Group by 2.0% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company’s stock valued at $599,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

RIO opened at $62.02 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The stock has a fifty day moving average of $60.66 and a 200-day moving average of $62.96. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RIO. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Jefferies Financial Group cut their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 25th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.00.

About Rio Tinto Group

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.