SteelPeak Wealth LLC acquired a new stake in Rio Tinto Group (NYSE:RIO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 200,816 shares of the mining company's stock, valued at approximately $11,810,000.
A number of other institutional investors have also recently bought and sold shares of RIO. Winch Advisory Services LLC bought a new stake in Rio Tinto Group in the 3rd quarter valued at about $26,000. FSC Wealth Advisors LLC acquired a new position in shares of Rio Tinto Group in the 3rd quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Rio Tinto Group by 63.9% in the 4th 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. Sound Income Strategies LLC raised its position in shares of Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company's stock valued at $30,000 after buying an additional 173 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Rio Tinto Group in the 3rd quarter valued at approximately $38,000. Institutional investors own 19.33% of the company's stock.
Analyst Ratings Changes
RIO has been the subject of several analyst reports. Macquarie restated a "neutral" rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Jefferies Financial Group dropped their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, January 6th. StockNews.com cut shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Berenberg Bank upgraded shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $73.00.
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Rio Tinto Group Price Performance
NYSE RIO traded up $0.16 on Wednesday, hitting $60.06. 1,430,837 shares of the company were exchanged, compared to its average volume of 3,539,633. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The stock has a fifty day moving average of $60.96 and a 200-day moving average of $63.21. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.
Rio Tinto Group Profile
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Free Report)
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.
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