D.A. Davidson & CO. Purchases 9,107 Shares of Rio Tinto Group (NYSE:RIO)

D.A. Davidson & CO. boosted its position in Rio Tinto Group (NYSE:RIO) by 10.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 94,650 shares of the mining company’s stock after acquiring an additional 9,107 shares during the period. D.A. Davidson & CO.’s holdings in Rio Tinto Group were worth $5,566,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FSC Wealth Advisors LLC bought a new position in Rio Tinto Group in the third quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after acquiring an additional 195 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in Rio Tinto Group in the third quarter worth approximately $38,000. Hara Capital LLC purchased a new stake in shares of Rio Tinto Group in the third quarter worth approximately $53,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Rio Tinto Group in the fourth quarter worth approximately $47,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of RIO opened at $62.81 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $60.57 and a 200 day moving average of $62.93. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24.

Wall Street Analyst Weigh In

Several analysts have recently commented on RIO shares. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 14th. Jefferies Financial Group lowered their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group 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.