Ameliora Wealth Management Ltd. Raises Stake in Rio Tinto Group (NYSE:RIO)

Ameliora Wealth Management Ltd. raised its stake in Rio Tinto Group (NYSE:RIO - Free Report) by 567.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,010 shares of the mining company's stock after purchasing an additional 10,210 shares during the period. Ameliora Wealth Management Ltd.'s holdings in Rio Tinto Group were worth $706,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RIO. Tandem Financial LLC bought a new position in Rio Tinto Group in the 4th quarter valued at about $267,000. Strategic Financial Concepts LLC purchased a new position in shares of Rio Tinto Group during the fourth quarter valued at approximately $816,000. Financial Advocates Investment Management purchased a new stake in Rio Tinto Group in the 4th quarter valued at $567,000. Mather Group LLC. lifted its stake in Rio Tinto Group by 12.6% during the 4th quarter. Mather Group LLC. now owns 3,342 shares of the mining company's stock valued at $197,000 after acquiring an additional 375 shares in the last quarter. Finally, HHM Wealth Advisors LLC purchased a new position in Rio Tinto Group during the fourth quarter worth about $50,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Trading Down 1.0 %

Shares of NYSE RIO traded down $0.61 during midday trading on Tuesday, hitting $61.65. The company's stock had a trading volume of 2,094,827 shares, compared to its average volume of 3,250,449. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The stock has a fifty day moving average price of $60.70 and a 200 day moving average price of $62.98. 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 research analysts have weighed in on the company. StockNews.com cut Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, January 25th. Macquarie reiterated a "neutral" rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group reduced their price objective on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

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.