13,879 Shares in Rio Tinto Group (NYSE:RIO) Purchased by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC bought a new stake in Rio Tinto Group (NYSE:RIO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,879 shares of the mining company's stock, valued at approximately $816,000.

Several other hedge funds have also recently made changes to their positions in RIO. Palliser Capital UK Ltd raised its stake in shares of Rio Tinto Group by 213.8% in the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company's stock valued at $58,188,000 after buying an additional 674,117 shares during the period. Fisher Asset Management LLC raised its stake in shares of Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company's stock valued at $1,247,475,000 after buying an additional 485,731 shares during the period. Mediolanum International Funds Ltd bought a new stake in shares of Rio Tinto Group in the third quarter valued at $33,590,000. SPX Gestao de Recursos Ltda raised its stake in shares of Rio Tinto Group by 1,773.2% in the third quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company's stock valued at $30,384,000 after buying an additional 404,131 shares during the period. Finally, FMR LLC raised its stake in shares of Rio Tinto Group by 35.1% in the third quarter. FMR LLC now owns 1,381,766 shares of the mining company's stock valued at $98,340,000 after buying an additional 358,630 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com upgraded Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Friday, February 14th. Jefferies Financial Group reduced their price target on 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. Four analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Group Stock Down 1.3 %

Shares of NYSE RIO traded down $0.87 during mid-day trading on Friday, hitting $63.43. The company had a trading volume of 2,258,985 shares, compared to its average volume of 3,209,212. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The stock's 50-day moving average price is $60.58 and its 200-day moving average price is $62.93.

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.