Horizon Kinetics Asset Management LLC Purchases 8,370 Shares of Rio Tinto Group (NYSE:RIO)

Horizon Kinetics Asset Management LLC raised its position in Rio Tinto Group (NYSE:RIO - Free Report) by 106.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,266 shares of the mining company's stock after buying an additional 8,370 shares during the quarter. Horizon Kinetics Asset Management LLC's holdings in Rio Tinto Group were worth $1,158,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RIO. Armstrong Advisory Group Inc. raised its stake in Rio Tinto Group by 9.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company's stock valued at $129,000 after acquiring an additional 159 shares during the period. Eagle Bluffs Wealth Management LLC increased its stake in shares of Rio Tinto Group by 1.1% in the second quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company's stock worth $989,000 after purchasing an additional 163 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of 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 purchasing an additional 173 shares during the period. Concurrent Investment Advisors LLC lifted its stake 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 valued at $303,000 after buying an additional 175 shares in the last quarter. Finally, Fiduciary Financial Group LLC boosted its holdings in 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 buying an additional 178 shares during the period. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Group Trading Down 1.5 %

Shares of NYSE:RIO traded down $0.96 on Tuesday, reaching $62.02. 1,765,067 shares of the company traded hands, compared to its average volume of 2,739,594. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09. The business's 50-day simple moving average is $65.55 and its 200 day simple moving average is $65.68. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RIO. StockNews.com lowered Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 12th. Royal Bank of Canada raised shares of Rio Tinto Group to a "hold" rating in a report on Wednesday, July 31st. Macquarie reissued a "neutral" rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, Berenberg Bank raised Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy".

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.