Wealth Management Partners LLC Takes $989,000 Position in Rio Tinto Group (NYSE:RIO)

Wealth Management Partners LLC bought a new stake in Rio Tinto Group (NYSE:RIO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 16,812 shares of the mining company's stock, valued at approximately $989,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ellsworth Advisors LLC lifted its stake in shares of Rio Tinto Group by 8.9% in the fourth quarter. Ellsworth Advisors LLC now owns 11,143 shares of the mining company's stock valued at $655,000 after buying an additional 914 shares in the last quarter. Aaron Wealth Advisors LLC raised its holdings in shares of Rio Tinto Group by 13.8% in the 4th quarter. Aaron Wealth Advisors LLC now owns 7,662 shares of the mining company's stock worth $451,000 after acquiring an additional 931 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of Rio Tinto Group by 467.2% in the fourth quarter. Brooklyn Investment Group now owns 1,072 shares of the mining company's stock valued at $63,000 after purchasing an additional 883 shares in the last quarter. Walker Asset Management LLC boosted its holdings in Rio Tinto Group by 13.8% during the 4th quarter. Walker Asset Management LLC now owns 4,126 shares of the mining company's stock worth $243,000 after acquiring an additional 500 shares during the last quarter. Finally, CNB Bank boosted its stake in shares of Rio Tinto Group by 100.0% in the 4th quarter. CNB Bank now owns 2,000 shares of the mining company's stock worth $118,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 19.33% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on RIO. StockNews.com raised Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Friday. Macquarie reaffirmed a "neutral" rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Jefferies Financial Group lowered their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, Berenberg Bank upgraded Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Rio Tinto Group Trading Up 2.0 %

Shares of RIO traded up $1.21 during mid-day trading on Monday, reaching $61.00. The stock had a trading volume of 4,696,896 shares, compared to its average volume of 2,271,512. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The business has a fifty day moving average of $60.98 and a 200 day moving average of $63.53.

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.