Fisher Asset Management LLC Increases Stock Holdings in Rio Tinto Group (NYSE:RIO)

Fisher Asset Management LLC increased its stake in Rio Tinto Group (NYSE:RIO - Free Report) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,528,095 shares of the mining company's stock after purchasing an additional 485,731 shares during the period. Fisher Asset Management LLC owned approximately 1.40% of Rio Tinto Group worth $1,247,475,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GHP Investment Advisors Inc. bought a new position in shares of Rio Tinto Group in the second quarter worth approximately $26,000. Winch Advisory Services LLC bought a new position in Rio Tinto Group during the third quarter valued at approximately $26,000. FSC Wealth Advisors LLC bought a new position in Rio Tinto Group during the third quarter valued at approximately $28,000. Sound Income Strategies LLC grew 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 valued at $30,000 after acquiring an additional 173 shares during the last quarter. Finally, Centerpoint Advisors LLC grew its position in Rio Tinto Group by 110.0% during the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company's stock valued at $35,000 after acquiring an additional 275 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. StockNews.com cut shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 12th. Berenberg Bank upgraded shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Macquarie reiterated a "neutral" rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada upgraded shares of Rio Tinto Group to a "hold" rating in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy".

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock traded up $0.62 on Monday, hitting $62.97. The stock had a trading volume of 2,192,408 shares, compared to its average volume of 2,743,494. 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 has a one year low of $59.35 and a one year high of $75.09. The stock's 50-day simple moving average is $65.57 and its two-hundred day simple moving average is $65.74.

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.