Kornitzer Capital Management Inc. KS Buys 15,031 Shares of Rio Tinto Group (NYSE:RIO)

Kornitzer Capital Management Inc. KS boosted its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 286,375 shares of the mining company's stock after acquiring an additional 15,031 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Rio Tinto Group were worth $16,842,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Winch Advisory Services LLC bought a new position in shares of Rio Tinto Group during the 3rd quarter valued at about $26,000. FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group during the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock valued at $29,000 after buying an additional 195 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of Rio Tinto Group in the third quarter valued at approximately $38,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Rio Tinto Group during the fourth quarter worth $47,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Down 1.3 %

Shares of RIO stock traded down $0.87 during trading on Friday, reaching $63.43. The company's stock had a trading volume of 2,258,985 shares, compared to its average volume of 3,209,212. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The business has a fifty day moving average price of $60.61 and a 200-day moving average price of $62.94. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Analyst Ratings Changes

RIO has been the topic of several research reports. Jefferies Financial Group cut their price objective on shares of 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. StockNews.com raised Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.