Rio Tinto Group (NYSE:RIO) Shares Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC grew its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 81.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,832 shares of the mining company's stock after purchasing an additional 4,855 shares during the period. Perigon Wealth Management LLC's holdings in Rio Tinto Group were worth $648,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RIO. AQR Capital Management LLC bought a new position in Rio Tinto Group in the second quarter worth about $518,000. Creative Planning raised its position in shares of Rio Tinto Group by 4.6% during the 2nd quarter. Creative Planning now owns 76,747 shares of the mining company's stock worth $5,060,000 after purchasing an additional 3,360 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Rio Tinto Group by 7.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 40,583 shares of the mining company's stock worth $2,676,000 after purchasing an additional 2,728 shares during the last quarter. EP Wealth Advisors LLC boosted its position in Rio Tinto Group by 22.0% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,240 shares of the mining company's stock valued at $345,000 after purchasing an additional 945 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in Rio Tinto Group during the 2nd quarter worth $1,910,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at $60.39 on Friday. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The company's 50-day moving average price is $60.87 and its two-hundred day moving average price is $63.17. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Macquarie reissued a "neutral" rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. StockNews.com cut shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, January 25th. Finally, Jefferies Financial Group cut their price target on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, January 6th. 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $73.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.