Outlook Wealth Advisors LLC Invests $410,000 in Rio Tinto Group (NYSE:RIO)

Outlook Wealth Advisors LLC acquired a new position in shares of Rio Tinto Group (NYSE:RIO - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,972 shares of the mining company's stock, valued at approximately $410,000.

Other institutional investors have also made changes to their positions in the company. Rhumbline Advisers grew its holdings in shares of Rio Tinto Group by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 23,872 shares of the mining company's stock worth $1,574,000 after purchasing an additional 962 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Rio Tinto Group by 6.5% in the second quarter. American Century Companies Inc. now owns 238,110 shares of the mining company's stock valued at $15,699,000 after buying an additional 14,506 shares in the last quarter. J.W. Cole Advisors Inc. lifted its holdings in Rio Tinto Group by 19.8% in the second quarter. J.W. Cole Advisors Inc. now owns 5,559 shares of the mining company's stock valued at $367,000 after buying an additional 920 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Rio Tinto Group by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 128,617 shares of the mining company's stock valued at $8,480,000 after buying an additional 4,023 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Rio Tinto Group by 78.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company's stock valued at $56,565,000 after acquiring an additional 376,778 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RIO. StockNews.com cut shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, November 12th. Macquarie reaffirmed a "neutral" rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Jefferies Financial Group decreased their price target on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, Berenberg Bank upgraded Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Rio Tinto Group currently has an average rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Group Price Performance

Shares of RIO traded down $1.01 during trading hours on Thursday, hitting $59.45. 8,700,084 shares of the stock were exchanged, compared to its average volume of 3,486,756. The business has a 50-day moving average of $61.30 and a 200-day moving average of $63.66. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

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.