Ritholtz Wealth Management Purchases 12,557 Shares of Rio Tinto Group (NYSE:RIO)

Ritholtz Wealth Management boosted its holdings in Rio Tinto Group (NYSE:RIO - Free Report) by 20.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,132 shares of the mining company's stock after buying an additional 12,557 shares during the period. Ritholtz Wealth Management's holdings in Rio Tinto Group were worth $4,419,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Armstrong Advisory Group Inc. boosted its position in shares of 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 worth $129,000 after purchasing an additional 159 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company's stock worth $30,000 after buying an additional 173 shares during the last quarter. Concurrent Investment Advisors LLC grew its position 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 worth $303,000 after buying an additional 175 shares during the period. Fiduciary Financial Group LLC increased its stake in shares of 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 valued at $330,000 after acquiring an additional 178 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of Rio Tinto Group by 1.2% in the 2nd quarter. Evergreen Capital Management LLC now owns 15,515 shares of the mining company's stock valued at $1,023,000 after acquiring an additional 179 shares during the period. Institutional investors and hedge funds own 19.33% of the company's stock.

Wall Street Analysts Forecast Growth

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

Rio Tinto Group Stock Up 2.7 %

Shares of NYSE:RIO traded up $1.59 during midday trading on Friday, reaching $61.38. 1,539,191 shares of the company were exchanged, compared to its average volume of 3,477,710. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The stock has a fifty day simple moving average of $61.20 and a two-hundred day simple moving average of $63.64. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

About Rio Tinto Group

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.