Stephens Inc. AR Grows Stake in Rio Tinto Group (NYSE:RIO)

Stephens Inc. AR raised its position in shares of Rio Tinto Group (NYSE:RIO) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,673 shares of the mining company’s stock after purchasing an additional 1,980 shares during the period. Stephens Inc. AR’s holdings in Rio Tinto Group were worth $3,274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Empowered Funds LLC increased its stake in shares of Rio Tinto Group by 39.9% during the fourth quarter. Empowered Funds LLC now owns 4,992 shares of the mining company’s stock valued at $294,000 after buying an additional 1,425 shares during the period. Advisory Resource Group grew its holdings in Rio Tinto Group by 4.0% during the 4th quarter. Advisory Resource Group now owns 17,479 shares of the mining company’s stock worth $1,028,000 after acquiring an additional 667 shares in the last quarter. Forbes J M & Co. LLP raised its holdings in shares of Rio Tinto Group by 0.6% in the 4th quarter. Forbes J M & Co. LLP now owns 89,883 shares of the mining company’s stock valued at $5,286,000 after purchasing an additional 568 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of Rio Tinto Group by 9.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,349 shares of the mining company’s stock worth $197,000 after purchasing an additional 292 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in shares of Rio Tinto Group during the fourth quarter valued at approximately $47,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Up 0.5 %

Shares of RIO opened at $62.23 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The stock has a fifty day moving average price of $60.72 and a 200-day moving average price of $62.99.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RIO. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 25th. Jefferies Financial Group decreased 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. Finally, Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

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.