Advisors Asset Management Inc. Has $5.65 Million Stock Position in Rio Tinto Group (NYSE:RIO)

Advisors Asset Management Inc. boosted its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 11.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,333 shares of the mining company's stock after purchasing an additional 8,417 shares during the period. Advisors Asset Management Inc.'s holdings in Rio Tinto Group were worth $5,646,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of RIO. GHP Investment Advisors Inc. acquired a new position in Rio Tinto Group during the second quarter worth approximately $26,000. Winch Advisory Services LLC bought a new stake in Rio Tinto Group in the 3rd quarter valued at $26,000. FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group during the 3rd quarter valued at $28,000. Sound Income Strategies LLC boosted its position 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 purchasing an additional 173 shares during the period. Finally, Centerpoint Advisors LLC increased its holdings in shares of Rio Tinto Group by 110.0% in the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company's stock valued at $35,000 after purchasing an additional 275 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Performance

RIO stock traded down $0.22 during mid-day trading on Friday, hitting $62.35. The stock had a trading volume of 1,783,767 shares, compared to its average volume of 2,745,918. The firm has a fifty day simple moving average of $65.57 and a 200 day simple moving average of $65.89. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RIO shares. Royal Bank of Canada raised shares of Rio Tinto Group to a "hold" rating in a report on Wednesday, July 31st. Berenberg Bank raised Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Macquarie reissued a "neutral" rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, StockNews.com lowered Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 12th. Four equities research 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. According to MarketBeat.com, Rio Tinto Group has an average rating of "Moderate Buy".

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.