Eagle Asset Management Inc. Increases Stock Position in Rio Tinto Group (NYSE:RIO)

Eagle Asset Management Inc. grew its stake in Rio Tinto Group (NYSE:RIO) by 11.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 9,040 shares of the mining company’s stock after acquiring an additional 903 shares during the period. Eagle Asset Management Inc.’s holdings in Rio Tinto Group were worth $643,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Mount Yale Investment Advisors LLC acquired a new position in Rio Tinto Group during the first quarter worth $479,000. Waverly Advisors LLC acquired a new position in Rio Tinto Group in the 1st quarter valued at about $1,646,000. Bayesian Capital Management LP purchased a new stake in Rio Tinto Group during the first quarter worth about $613,000. Dynasty Wealth Management LLC acquired a new stake in shares of Rio Tinto Group during the first quarter worth about $552,000. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of Rio Tinto Group by 9.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 28,257 shares of the mining company’s stock valued at $1,798,000 after purchasing an additional 2,337 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on RIO. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $62.97 on Tuesday. 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 company has a fifty day simple moving average of $65.57 and a 200-day simple moving average of $65.74. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09.

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.