Empirical Asset Management LLC Makes New Investment in Rio Tinto Group (NYSE:RIO)

Empirical Asset Management LLC acquired a new position in shares of Rio Tinto Group (NYSE:RIO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,199 shares of the mining company's stock, valued at approximately $1,600,000.

Several other large investors have also added to or reduced their stakes in RIO. Armstrong Advisory Group Inc. lifted its holdings in shares of Rio Tinto Group by 9.6% in the third quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company's stock worth $129,000 after buying an additional 159 shares in the last quarter. Sound Income Strategies LLC increased its stake in Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company's stock valued at $30,000 after acquiring an additional 173 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in Rio Tinto Group by 4.3% during the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company's stock valued at $303,000 after purchasing an additional 175 shares in the last quarter. Fiduciary Financial Group LLC boosted its holdings in shares of Rio Tinto Group by 3.7% in the 3rd quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company's stock worth $330,000 after purchasing an additional 178 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its position in shares of Rio Tinto Group by 1.2% during the 2nd quarter. Evergreen Capital Management LLC now owns 15,515 shares of the mining company's stock valued at $1,023,000 after purchasing an additional 179 shares during the last quarter. Institutional investors own 19.33% of the company's stock.

Rio Tinto Group Stock Up 2.0 %

RIO traded up $1.21 during trading on Friday, reaching $61.00. The stock had a trading volume of 4,696,896 shares, compared to its average volume of 2,271,512. 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's 50 day moving average is $60.98 and its two-hundred day moving average is $63.57. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24.

Analysts Set New Price Targets

Several analysts have issued reports on RIO shares. Jefferies Financial Group cut their target price on 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. StockNews.com raised shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Friday. Macquarie reiterated a "neutral" rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, Berenberg Bank upgraded shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Rio Tinto Group has a consensus rating of "Moderate Buy" and an average price target of $73.00.

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.