Strategic Financial Concepts LLC Makes New Investment in Rio Tinto Group (NYSE:RIO)

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

Other hedge funds also recently made changes to their positions in the company. Jeppson Wealth Management LLC increased its holdings in shares of Rio Tinto Group by 47.5% during the fourth quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company's stock worth $1,182,000 after purchasing an additional 6,473 shares during the period. Philip James Wealth Mangement LLC acquired a new stake in shares of Rio Tinto Group during the 3rd quarter worth approximately $1,345,000. Fisher Asset Management LLC boosted its position in shares of Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company's stock worth $1,247,475,000 after acquiring an additional 485,731 shares in the last quarter. Northwest Bancshares Inc. acquired a new stake in shares of Rio Tinto Group during the 3rd quarter worth approximately $1,440,000. Finally, Barclays PLC boosted its position in shares of Rio Tinto Group by 225.6% during the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company's stock worth $23,888,000 after acquiring an additional 232,539 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on RIO. Jefferies Financial Group reduced their price target 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 upgraded shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Friday. Four equities research 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Group Trading Up 0.1 %

Rio Tinto Group stock traded up $0.09 during mid-day trading on Friday, reaching $63.38. The company had a trading volume of 3,857,182 shares, compared to its average volume of 3,294,770. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The business has a fifty day simple moving average of $60.65 and a 200 day simple moving average of $62.94.

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.